financetom
Market
financetom
/
Market
/
Gold prices extend gains as dollar sags after Trump remarks
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Gold prices extend gains as dollar sags after Trump remarks
Aug 20, 2018 9:53 PM

Gold prices rose on the back of a weaker US dollar on Tuesday, extending gains into a third session after US president Donald Trump said he was "not thrilled" with the US Federal Reserve for raising interest rates.

Share Market Live

NSE

Fundamentals

Spot gold was up 0.3 percent at $1,193.97.24 an ounce at 0054 GMT. It climbed 0.5 percent in the previous session. US gold futures were up 0.5 percent at $1,200.60 an ounce.

The dollar index, which measures the greenback against a basket of six major peers, was down 0.4 percent at 95.494. The dollar was down 0.2 percent at 109.86 yen.

Trump said on Monday he was "not thrilled" with the Federal Reserve under his own appointee, Chairman Jerome Powell, for raising interest rates and said the US central bank should do more to help him to boost the economy.

Asian stocks were capped in the wake of those comments from Trump and after he accused China and Europe of manipulating their currencies.

Atlanta Fed President Raphael Bostic said on Monday he was maintaining his expectation for one more interest rate hike this year, as trade tensions and international events add some downside risk to an otherwise strong US outlook.

US businesses have a message for the Trump administration: New tariffs on $200 billion of Chinese imports will force Americans to pay more for items they use throughout their daily lives, from cradles to first bicycles and wedding dresses to coffins.

Turkish authorities detained two men suspected of shooting at the US Embassy in the capital Ankara on Monday, in an attack that coincides with increased tensions between the two NATO allies over the trial of a US pastor in Turkey.

Meanwhile, Trump also said he did not expect much progress from trade talks with China this week in Washington.

China, seeking to skirt US sanctions, will use oil tankers from Iran for its purchases of that country's crude, throwing Tehran a lifeline while European companies such as France's Total are walking away due to fear of reprisals from Washington.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Jan 5, 2025
...
JGB yields hit multi-year highs, tracking US Treasury yields higher
JGB yields hit multi-year highs, tracking US Treasury yields higher
Jan 5, 2025
TOKYO, Jan 6 (Reuters) - Japanese government bond yields rose to multi-year highs on Monday, the first trading day for 2025, tracking U.S. Treasury yields higher, with an auction in the next session weighing on sentiment. The 10-year JGB yield rose 3.5 basis points to 1.125%, its highest level since July 2011. The yield rose to track U.S. Treasury yields...
Investment Guru Peter Lynch: 'If You Invest Only in an Index, You'll Never Beat It. Brushing Up on Stock-Picking Skills Is Wise'
Investment Guru Peter Lynch: 'If You Invest Only in an Index, You'll Never Beat It. Brushing Up on Stock-Picking Skills Is Wise'
Jan 5, 2025
Esteemed investor Peter Lynch, celebrated for his extraordinary 13-year tenure managing the Fidelity Magellan fund has shared his investment insights and views on the evolving stock market landscape. What Happened: Lynch, whose impressive 29% annualized return from 1977 to 1990 still stands, discussed his investment tactics and the transformation of the stock market. He stressed the significance of investing in sectors and companies that investors...
Crude Oil Prices Edge Lower on Strong U.S. Dollar as Market Awaits U.S. Economic Data
Crude Oil Prices Edge Lower on Strong U.S. Dollar as Market Awaits U.S. Economic Data
Jan 6, 2025
05:10 AM EST, 01/06/2025 (MT Newswires) -- Crude oil prices edged lower on a strong U.S. dollar as the market awaits key economic data from the U.S. Brent crude lost 0.2% to US$76.37 per barrel and West Texas Intermediate crude was down 0.2% to US$73.84/b at last look early Monday. Both benchmarks on Friday closed at their highest levels since...
Copyright 2023-2026 - www.financetom.com All Rights Reserved