Gold prices were little changed on Friday as worries over an accelerating number of coronavirus cases countered a fillip to risk sentiment from positive U.S. and Chinese economic data.
Spot gold was mostly unchanged at $1,774.75 per ounce by 9:31 GMT. Most U.S. markets are closed on Friday ahead of Independence Day on July 4. U.S. gold futures eased 0.3% to $1,785.40 per ounce.
Elsewhere, Palladium fell 0.5% to $1,892.02 per ounce, while platinum rose 0.45 % to...
Oil markets slipped Friday as the resurgence of Covid-19 cases, particularly in the U.S., the largest consumer in the world, threatened the recovery of crude demand.
At 7:30 AM ET (11:30 GMT), U.S. crude futures traded 1.2% lower at $40.15 a barrel. The international benchmark Brent contract rose 1.3% to $42.58.
The U.S. has recorded around a quarter of the almost 11 million cases worldwide, according to data from Johns Hopkins University, and the number is growing rapidly.
The dollar edged up on Friday but was set for its biggest weekly fall since the start of June, as a sentiment boost from better-than-expected jobs data in the United States was tempered by surging coronavirus cases.
The U.S. Labor Department said on Thursday that payrolls surged in June but the reaction in currencies was limited. Even after two months of job recovery from May, the U.S. economy has regained just over a third of an historic plunge of 20.787 million jobs lost in April.
Hong Kong shares ended higher Friday, extending the previous day's near-three percent gains, as global markets were boosted by a better-than-expected reading on US jobs creation.
The Hang Seng Index jumped 0.99 percent, or 248.93 points, to 25,373.12.
The benchmark Shanghai Composite Index rose 2.01 percent, or 62.24 points, to 3,152.81 while the Shenzhen Composite Index on China's second exchange rallied 1.28 percent, or 25.84 points, to 2,041.89.
Source : AFP
The headline seasonally adjusted final IHS Markit/CIPS UK Services PMI Business Activity Index posted 47.1 in June, up sharply from 29.0 in May and the highest for four months. This compared with the earlier 'flash' figure of 47.0 in June.
The data did little to influence the British pound or provide any meaningful impetus to the GBP/USD pair.
Source : FXstreet