Gold Steady, Underpinned by Signs of Chinese Buying Activity
2343 GMT — Gold is steady in early Asian trade. 'Buying activity by Chinese gold ETFs continues to pick up steam,' TD Securities' Daniel Ghali says in a research report. Chinese gold ETFs have added 233,000 ounces of notional gold over the last week, the senior commodity strategist says. Sentiment in China for the precious metal may have also been bolstered by Chinese life insurance companies' membership being granted by the Shanghai Gold Exchange, which officially allows them to buy gold, Ghali says. 'We see little scope for downside in gold,' the strategist adds. Spot gold is little changed at $3,112.98/oz. (ronnie.harui@wsj.com)
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Miami Herald
40 minutes ago
- Miami Herald
Tesla Just Bucked An EV Trend In Europe, And It's A Huge Problem For The Company
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Yahoo
2 hours ago
- Yahoo
5th BEYOND Expo 2025 Creates an Enduring Legacy for Asian Tech Innovation
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CNBC
2 hours ago
- CNBC
Asian markets set to open higher as investors await Beijing-Washington trade meeting and China data
China Shenzhen Real444 | E+ | Getty Images Asian markets were set to climb Monday as investors awaited trade talks between the U.S. and China later in the day, following accusations between the two over breaching deal terms agreed in Geneva last month. Trade tensions are seemingly easing as China has reportedly granted temporary approvals for the export of rare earths, while jetliner Boeing Co has begun commercial jet deliveries to the Asian superpower. China is also slated to release a slew of data, including its consumer and wholesale inflation readings for May. Economists polled by Reuters expect consumer prices to have fallen by 0.2% year on year, while PPI is forecast to have declined by 3.2% from a year earlier.. Futures for Hong Kong's Hang Seng index stood at 23,801 pointing to a marginally higher open compared to the HSI's last close of 23,792.54. Japan's benchmark Nikkei 225 was set to open higher, with the futures contract in Chicago at 37,975 while its counterpart in Osaka last traded at 37,980, against the index's Friday close of 37,741.61. Australian markets are closed for a public holiday. U.S. equity futures were mostly flat in early Asian trade. All three key benchmarks on Wall Street jumped last Friday, after the non-farm payrolls data came in better-than-expected. U.S. payrolls climbed 139,000 in May, the Bureau of Labor Statistics reported Friday, above the Dow Jones forecast of 125,000 for the month but less than the downwardly revised 147,000 in April. The Dow Jones Industrial Average popped 443.13 points, or 1.05%, to close at 42,762.87. The blue-chip index was up more than 600 points at its highs of the session. Meanwhile, the the broad-based S&P 500 also gained 1.03% — surpassing the 6,000 level for the first time since late February — and settling at 6,000.36, while the Nasdaq Composite rallied 1.20%, to end at 19,529.95. — CNBC's Sean Conlon and Jesse Pound contributed to this report.
