Chinese Carmakers Near 10% UK Share After Fivefold BYD Surge
Chinese automakers stepped up their push into the UK last month, closing in on a 10% market share for the first time as demand for BYD Co. electric models continues to boom.
Brands whose vehicles are manufactured in China cornered 9.4% of the British new car market in May, up from 7.7% the month earlier, according to data from the Society of Motor Manufacturers & Traders trade body.
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CNBC
18 minutes ago
- CNBC
Jobs, profit-taking and 2 other things that drove the stock market this week
The very public implosion of President Donald Trump and Elon Musk 's alliance may have captivated Wall Street this week, but the government's solid monthly employment report was the real showstopper. In addition to those two developments, earnings from Club names CrowdStrike and Broadcom , and the back-and-forth between Trump and Chinese President Xi Jinping on trade defined the market. 1. Jobs, stocks , Fed : The S & P 500 jumped 1% on Friday on the labor data , which showed job growth in May that was strong enough to ease fears of a recession and warmer-but-not-too-hot wage inflation. With both sides of the Federal Reserve's dual mandate of maximizing employment and fostering price stability in check, the market still felt comfortable rooting for an interest rate cut down the line. For the week, the S & P 500 rose 1.5% , logging its back-to-back weekly gains. For the second time this week, and despite Friday's solid nonfarm payrolls data, Trump prodded Fed Chairman Jerome Powell to cut rates – this time, calling for a full percentage point reduction . The market is predicting virtually no chance of a reduction at the central bank's upcoming meeting later this month. On Wednesday, the president called for a Fed rate cut after the weak ADP private sector hiring report. Powell has been saying all along that he won't be influenced by politics and will be economic data dependent. The Fed chief has also said he would like to see more data on whether Trump's tariffs, which are moving targets and not finalized, negatively impact the economy. 2. Scorched Earth : Could the relationship between the world's most powerful man, Trump, and the world's richest, Musk, end any other way than the way it did Thursday? Both billionaires went after each other on social media. Trump called Musk "crazy" and threatened to kill federal contracts with Musk's companies, including SpaceX. Musk called for Trump's impeachment, criticized Trump's "Big Beautiful Bill" of tax cuts and spending priorities making its way on Capitol Hill, and then said SpaceX would decommission its Dragon spacecraft. Musk later took back that last part. Tesla shares sank over 14% on Thursday – but on Friday, recovered more than 3.5%. Also on Friday, Trump said he was not interested in having a call with Musk. Putting all the drama aside, there are real issues at play here concern the federal budget deficit and the billions upon billions of dollars of stock market value that has been erased from Musk's Tesla . Shares have lost more than 25% year to date. 3. Back on, again : The other Washington-related saga that has implications for stocks is trade talks between the U.S. and China. Trump announced on Friday that U.S.-China trade talks will take place Monday in London. The news comes after Trump and Xi finally talked on the phone Thursday. Last month, high-level U.S. officials met with their Chinese counterparts in Geneva, Switzerland, where they each agreed to pause most of the triple-digit tariff rates on each other's imports. Before the Trump-Xi call, the U.S. president accused China of violating that agreement – to which the Chinese accused the U.S. of not adhering to the deal. Reuters reported on Friday that China granted licenses for rare earth elements to the top three U.S. automakers. Back in April, China, which dominates in rare earths, put export curbs on the resources, which are key to making many of our modern-day products. 4. Records, then selling : Both CrowdStrike and Broadcom saw their stocks finish at record closing highs ahead of this week's respective earnings reports, which led to selling. CRWD YTD mountain CrowdStrike YTD Shares of CrowdStrike hit its closing record of just under $489 on Tuesday. Then after the bell, the cybersecurity delivered a mostly solid quarter . The stock lost 5.8% on Wednesday. Good old profit-taking after a big run to all-time highs contributed to the selling, and so did concerns about mixed guidance and some noise around federal government inquiries into the company — though nothing has changed in our stance toward last July's massive IT outage and its dealings with software reseller Carahsoft. The outage was caused by a botched CrowdStrike software update. CEO George Kurtz appeared on "Mad Money" with Jim and defended his company in the probes , saying the company is cooperating with investigators. On earnings night, we raised our price target to $500 per share from $400 but kept our hold-equivalent 2 rating in recognition of this year's more than 35% gain in the stock. Shares were modestly higher on Thursday and Friday. AVGO YTD mountain Broadcom YTD Broadcom shares closed at a record high of $261 each Wednesday. Then, after Thursday's close, Broadcom delivered a strong quarter and upbeat comments about its key artificial intelligence business. There are no signs that demand for the company's custom AI chips, or "accelerators," and networking solutions will let up anytime soon. On the software side, Broadcom continues to make the most of its blockbuster VMware acquisition. But again, profit-takers swooped in during Friday's session and pushed the stock down 5%. On earnings night, we raised our price target on the stock to $290 per share from $230 but kept our 2 rating. During Friday's Morning Meeting, Jim did tell investors without a position in Broadcom that it would be a good time to buy, starting with a partial position then building it up over time. (Jim Cramer's Charitable Trust is long CRWD, AVGO. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Yahoo
an hour ago
- Yahoo
New Betting Sites for UK Players - BetFoxx Leads Recommendations as Most Exciting New UK Sportsbook
Discover why BetFoxx is one of the best new betting sites in the UK. Read our expert review covering games, bonuses, mobile experience, security, and more. Betfoxx New York City, NY, June 07, 2025 (GLOBE NEWSWIRE) --Welcome to our comprehensive betting review of BetFoxx, a brand new betting site making waves in the UK's dynamic online betting landscape. Tailored specifically for UK customers, BetFoxx brings a host of innovative features designed to enhance your British sports betting experience. JOIN THE MOST TRUSTED NEW BETTING SITE AND ONLINE CASINO: BETFOXX BetFoxx is part of the ever-evolving UK betting scene and stands out as one of the newest betting sites to launch in the UK. In this review, we'll delve into what makes BetFoxx shine among the newest UK betting sites, highlighting its user-friendly interface, unique offerings, and dependable reliability. Join us as we uncover why BetFoxx is quickly becoming one of the best betting sites in the Started at BetFoxx Diving into the world of new betting sites in the UK has never been easier! Creating a new betting account at BetFoxx is quick and straightforward. Your betting account, also referred to as a sports betting account, gives you access to all features, bonuses, and promotions. BetFoxx offers a streamlined, user-friendly approach to starting your betting journey. Here's how you can get set up and start enjoying the multitude of betting options available. 1. Visit the Official BetFoxx Website To begin your adventure with BetFoxx, simply visit their official BetFoxx's website. It is designed to be intuitive, making it easy to locate all the essential features and navigate through the site seamlessly. 2. Create Your Account in Minutes Once on the website, look for the 'Sign Up' or 'Join Now' button. This will take you to a registration page where you will be asked to fill out some basic information. Providing your name, email address, and choosing a secure password only takes a couple of minutes. 3. Verify Your Identity to Start Playing In compliance with UK gambling regulations, online sportsbooks and betting companies require identity verification. To complete this step, have your identification documents ready, such as a passport or a driver's licence. This process ensures the security and fairness of the platform. 4. Deposit Funds and Explore Your Betting Options After verifying your identity, you're ready to deposit funds. BetFoxx supports a variety of payment methods to suit different preferences. Once funded, you can explore a vast range of betting options available on the site. Whether you're into sports betting or casino games, the array of choices guarantees something for every punter. Go to the BetFoxx sign-up page What British Punters Should Know About New Online Betting Sites The landscape of new online betting sites in the UK has seen rapid evolution. These platforms offer fresh opportunities, advanced technology, and often better odds compared to traditional bookmakers. Exploring the World of New Betting Sites in the UK British punters are now presented with a vast array of new online bookies, each vying for attention through unique offerings and innovative features. Online bookmakers are regulated and offer secure payment methods, making them a reliable choice for punters concerned about safety and trust. Punters are always searching for the best new betting sites that provide the best odds and a wide range of sports betting markets. Unlike established bookmakers, new platforms are more adaptable and often introduce cutting-edge technologies, providing a more dynamic betting experience. Feature New Online Betting Sites Traditional Bookmakers Odds and Payouts Frequently higher returns Standardised odds Technology Advanced interfaces, mobile-friendly Basic navigational tools Promotions Regular offers, welcome bonuses Limited special offers Market Variety Broader range, niche markets included Focused on mainstream markets The variety of betting market options is a key factor in choosing the best betting site, as it allows punters to access both pre-event and in-play markets, as well as specialized categories like accumulators. Why British Punters Are Turning to New Online Bookies The shift towards new online betting sites among British punters can be attributed to several key benefits. Firstly, these new online bookies often provide better odds, and their competitive betting odds are a major draw for new customers seeking value. Secondly, their use of advanced technology ensures a seamless and enjoyable experience, from fast loading times to intuitive interfaces. Lastly, the ample promotions and incentives offered by new betting sites make them an enticing choice for punters looking to maximise their betting potential. New betting sites attract punters with generous free bet offers, bonus bets, and the chance to claim free bet tokens as part of their welcome packages. For many new customers, a free bet offer is often a deciding factor when choosing a bookmaker. These free bet offers typically require placing qualifying bets, which must meet certain criteria, to unlock the bonus. What Makes BetFoxx One of the Best New Sports Betting Sites BetFoxx has quickly earned a reputation as one of the best new sports betting sites in the United Kingdom, thanks to its innovative features and user-centric design. Every element of the platform is crafted with the UK bettor in mind, offering an engaging and seamless gambling experience. Fresh Features That Set It Apart from Other New Online Betting Sites BetFoxx sets itself apart from other new sports betting sites with its array of cutting-edge features. It boasts an extensive range of sports markets, live in-play betting, and highly competitive odds that cater to both casual punters and serious bettors. BetFoxx also offers bet builders for creating custom wagers and provides a wide selection of sportsbook markets to enhance your betting experience. A free bet token is available as part of their promotional features, giving users the chance to place bets without risking their own money. The site's interface is intuitive, ensuring quick navigation and a user-friendly experience. Moreover, it includes advanced stats and analytics tools, allowing you to make informed betting decisions. Designed with the UK Bettor in Mind As a new betting site, BetFoxx's platform is thoughtfully designed with the needs of UK bettors in mind, offering customisation options tailored to local preferences. You'll find currency support in GBP and region-specific payment methods like PayPal and PaySafeCard. The thematic focus on popular UK sports, including football, rugby, and cricket, ensures you have access to the nation's most beloved events. Furthermore, the responsible gambling features are robust, providing tools to help you set limits and manage your wagering activities responsibly. Licensing, Security & Fair Play When choosing among the best online betting sites, it's crucial to ensure they operate under stringent regulations and uphold high standards of security and fairness. Choosing a licensed online bookmaker is essential for safety and trust. BetFoxx provides a secure environment for betting online, fully adhering to all regulatory standards. BetFoxx stands out by adhering to the robust regulatory framework set by the UK Gambling Commission, making it one of the most reliable UK bookmakers, alongside trusted brands like William Hill. Is BetFoxx Safe? A Look at UK Regulation and Licences BetFoxx is fully licensed and regulated by the UK Gambling Commission, ensuring it complies with the highest standards in the industry. This regulatory body is renowned for its rigorous guidelines, aimed at protecting players and promoting fair play across all betting websites. The UK Gambling Commission's oversight guarantees that BetFoxx conducts its operations transparently and fairly, providing a safe environment for all users. Secure Betting Websites: What BetFoxx Gets Right Security is a top priority at BetFoxx. The platform employs state-of-the-art encryption technology to safeguard your personal and financial data. This commitment to security places BetFoxx among the best online betting sites. The implemented protocols ensure that all transactions and activities on the site are protected, giving you peace of mind while you engage with one of the most trusted UK bookmakers. Moreover, BetFoxx's dedication to fair play is evident in its transparent gaming practices and continual auditing by independent agencies. Sports, Games & Markets Available at BetFoxx BetFoxx offers an extensive range of options for every betting enthusiast. The platform features a wide variety of sportsbook markets and betting market options, covering everything from pre-event to in-play categories. If you're looking for diverse betting markets and game choices, this platform ensures a comprehensive experience for British punters by covering every major sportsbook market for UK punters. New Sports Betting Site with Broad Market Coverage One of the standout features of BetFoxx is its inclusive sports betting site. The platform caters to an array of sports, offering everything from football and cricket to tennis and horse racing. This broad market coverage allows you to place bets on your favourite sports efficiently and conveniently. From Slots to Live Dealers: The Casino Side of BetFoxx Beyond sports, this new betting site, BetFoxx, shines with its multifaceted casino offerings. Delve into a vast selection of slots games, ranging from classic three-reel slots to modern video slots with immersive graphics. Additionally, the live dealers section brings the pulsating energy of a real casino to your fingertips, providing an authentic and interactive experience without leaving your home. Unique Game Options and Player Favourites BetFoxx continues to innovate by offering unique game options that appeal to a wide audience. Whether you are into traditional table games like blackjack and roulette or seeking the thrill of progressive jackpots, there's something to suit everyone's taste. The platform is designed to keep you engaged, introducing new and trending games that quickly become user favourites. Playing Across All Devices The world of mobile betting has evolved, offering a seamless and flexible experience for users. As a new betting site, BetFoxx stands out with its exceptional mobile compatibility. Whether you're at home or on the move, the platform delivers smooth performance across various devices, ensuring you can enjoy online betting on the go without a hitch. Mobile-Friendly Design for British Bettors on the Go BetFoxx has embraced a user-centred design approach, making it easy for British punters to access their favourite betting options. The site is optimised for both Android and iOS devices, providing a smooth and intuitive interface that adapts well to different screen sizes. You'll find it effortless to place bets, explore games, and manage your account from your smartphone or tablet. Fast Loading, Easy Navigation: A User-Centred Experience Speed and simplicity are at the core of BetFoxx. The platform's fast loading times mean you spend more time enjoying your betting experience and less time waiting for pages to load. Designed with user-centred design principles, the easy-to-navigate layout ensures that even newcomers can quickly find their way around. Whether you're indulging in some quick mobile betting or enjoying in-depth sessions, the site's responsive nature guarantees a hassle-free experience every time. Bonuses & Promotions BetFoxx prides itself on offering some of the best betting promotions in the UK. Whether you're a new player or a seasoned bettor, there's always something to enhance your gaming experience. The max free bet and maximum free bet amounts available as part of these promotions are clearly stated in the terms and conditions, ensuring you know the upper limit you can receive. Please note that free bets exclude virtuals, so virtual sports are not eligible for these free bet promotions. Free bets are valid for a limited period and free bets expire if not used within that timeframe, so be sure to use them before they become invalid. Welcome Bonuses at One of the Best Betting Sites for New Players The welcome bonuses at BetFoxx are designed to give new players a strong start. By placing your initial bet, you can take advantage of a free bet offer where you may get 20 in free or even get 30 in free, depending on the promotion. As you sign up, you can expect generous bonuses that match your initial deposits, boosting your account balance right away. Such incentives not only extend your playtime but also increase your chances of winning. Weekly Offers and Cashback for Loyal Customers Loyalty is highly rewarded at BetFoxx. Regular players can take advantage of weekly offers that keep the excitement going. Moreover, cashback offers are available to help you recover a portion of your losses, turning your bets into even more valuable opportunities. These ongoing promotions demonstrate the casino's commitment to providing a superior betting experience. JOIN BETFOXX AND CLAIM YOUR WELCOME BONUS NOW! Always remember to check the terms and conditions for each promotion on the site (wagering requirements, game eligibility, time limits, etc.), but rest assured that BetFoxx's offers are designed to be player-friendly. The combination of a lucrative welcome bonus, ongoing cashback, and fun promotions makes this platform stand out in the promotions department. Payment Options at BetFoxx When it comes to managing your funds at BetFoxx, you have access to an array of reliable payment options tailored specifically for UK players. The casino prioritises both speed and flexibility, ensuring that you can start playing your favourite games without delay. Fast, Flexible Payment Methods for UK Players BetFoxx supports an extensive variety of payment options, allowing you to choose the method that best suits your needs. Whether you prefer traditional bank transfers, debit cards, or modern e-wallets like PayPal and Skrill, the process is designed for maximum convenience. Here is a detailed overview of available methods: Payment Method Processing Time Deposit Fee Bank Transfer 1-3 Business Days Free Debit Cards (Visa, Mastercard) Instant Free PayPal Instant Free Skrill Instant Free Easy Withdrawals and Transparent Processing Times As new betting site, at BetFoxx, easy withdrawals and transparent processing times are a top priority. The withdrawal process is designed to be hassle-free, with clear timelines provided for each payment method. This ensures that you know exactly when you can access your winnings, enhancing overall user satisfaction. With commitments to transparent processing, there are no hidden fees, and information about all transactions is readily available within your account dashboard. Thanks to the casino's focus on user convenience, you can expect a seamless and efficient financial experience. Whether you're depositing funds to enjoy the wide array of games or withdrawing your winnings, BetFoxx's robust payment infrastructure ensures a secure and straightforward process. Support When You Need It One of the pivotal aspects of any remarkable betting experience—especially when exploring a new betting site—is the availability of robust customer support. BetFoxx understands this necessity and offers comprehensive assistance to its users. 24/7 Customer Support from a Trusted UK Betting Site At BetFoxx, you'll find 24/7 support through various channels, ensuring that help is always at hand. Whether you are a novice bettor or an experienced punter, their dedicated team is ready to assist you at any hour of the day. Live Chat: Connect instantly with a customer support representative for real-time solutions. Email: Send your queries anytime, and expect prompt responses. Phone: Speak directly with a support agent for immediate assistance. Being a trusted UK betting site, BetFoxx places high importance on customer satisfaction. This commitment manifests in their well-trained support team, who are adept at addressing a wide range of betting-related queries. Effective customer support not only builds trust but also enhances the overall betting experience. You can be assured that any issues or queries you have will be resolved efficiently, allowing you more time to enjoy your betting journey at BetFoxx. Support Channel Availability Response Time Live Chat 24/7 Instant Email 24/7 Within 24 hours Phone 24/7 Immediate Playing Responsibly with BetFoxx At BetFoxx, the focus is not just on providing a thrilling gaming experience but also on promoting the importance of gambling responsibly. To ensure you enjoy your time while maintaining control, the site offers a variety of tools and tips for managing your betting safely online. Budgeting Tips for British Punters Creating a budget is fundamental to safer gambling. Begin by setting a specific amount of money you are comfortable spending and stick to it. Do not exceed this limit, regardless of wins or losses. By having a clear idea of your budget, you can enjoy gambling responsibly without financial strain. Tools for Safer Gambling and Self-Control As a responsible new betting site, BetFoxx is dedicated to helping you stay in control with several built-in tools. Set deposit limits to prevent overspending, use reality checks to monitor your time spent playing, and take advantage of cool-off periods or self-exclusion options if you ever need a break. These features are designed with your well-being in mind, making betting safely online a priority. Legal Notice & Transparency Statement At BetFoxx, we take our responsibility to provide a fair and secure gambling environment very seriously. Our commitment to maintaining strict legal notices and upholding the highest standards of transparency in betting is unwavering. As a new betting site operating under a licence issued by the UK Gambling Commission, BetFoxx adheres to some of the most rigorous standards in the industry. This ensures that our gaming practices are not only fair but also transparent and accountable. We strictly follow all legal notices required by the UKGC, and our operations are regularly reviewed to ensure full compliance. This includes verifying player identities, promoting responsible gambling, and maintaining robust security measures to protect your personal and financial information. For additional clarity, we have provided an overview of key policies and standards below: Aspect Details Licensing Licensed by the UK Gambling Commission Transparency Clear display of terms and betting conditions Compliance Regular audits to ensure adherence to UKGC guidelines Responsible Gambling Tools and resources for players to manage their betting behaviours Security Advanced encryption technology to safeguard data By reinforcing these practices, BetFoxx reaffirms its dedication to creating a trustworthy and enjoyable gambling experience. We appreciate your trust and strive to continue offering transparent, compliant, and secure services. Final Thoughts: Is BetFoxx One of the Top New Betting Sites in the UK? BetFoxx stands out among the newest UK betting sites, offering a seamless experience for both new and seasoned punters. With a user-friendly interface, quick sign-up, and secure identity verification, getting started is effortless. The platform features a wide range of sports betting and casino options, making it one of the most versatile new betting sites in the UK. Licensed by the UK Gambling Commission, it guarantees a safe, fair, and encrypted environment. Mobile compatibility is a highlight—BetFoxx works smoothly across devices, letting you bet on the go. Generous welcome bonuses, regular promotions, flexible payment methods, and 24/7 customer support round out its appeal, confirming its place as a top contender in the market. Feature BetFoxx Coin Casino WSM Casino Welcome Bonus £100 + 50 Free Spins £50 £75 + 25 Free Bets Payment Options Visa, MasterCard, PayPal Visa, Skrill MasterCard, Neteller Customer Support 24/7 Live Chat, Email 9am-5pm Email Support 24/7 Live Chat In conclusion, it's easy to see why BetFoxx is gaining popularity amongst UK bettors. With the right mix of features, security, and customer-centric services, it adequately meets the needs of modern bettors, placing it firmly among the newest UK betting sites worth watching. BetFoxx is recognized as one of the best new betting sites and is quickly becoming a best betting site for UK punters due to its innovative features, attractive promotions, and reliable service. Frequently Asked Questions about the Best New UK Betting Sites How do I start betting at BetFoxx? To begin betting at BetFoxx, you need to first visit their official website and create an account, which only takes a few minutes. Once your account is set up, you'll need to verify your identity, a standard procedure at all licensed betting sites. After successful verification, deposit funds using the various secure payment methods available, and you're ready to explore an array of betting options. What makes BetFoxx different from other new online bookies? BetFoxx stands out among new betting sites thanks to its innovative features tailored specifically for the UK market. It offers extensive sports market coverage and a plethora of casino games, including slots and live dealer options. The site's mobile-friendly design ensures you can enjoy a seamless betting experience on the go, making it a favourite among British punters. Are there bonuses for new British punters? Indeed, BetFoxx offers a range of lucrative bonuses for new British punters. Upon signing up, you can take advantage of welcome bonuses designed to give your betting a substantial boost. Additionally, there are regular promotions, including weekly offers and cashback incentives, rewarding you for your loyalty and enhancing your overall betting experience. Is BetFoxx safe and licensed in the UK? Yes, BetFoxx is fully licensed by the UK Gambling Commission and follows stringent security protocols to ensure safe and fair play for its Contact Project name: BetFoxx Company Website: Email: support@ Contact person name: Guido Contact person email: guido@ Addreess: Floor 4 Viettel Building, No.9, Vo Thi Sau Street, Nha Trang City , Khanh Hoa, Vietnam Attachment Betfoxx CONTACT: Media Contact Project name: BetFoxx Company Website: Email: support@ Contact person name: Guido Contact person email: guido@ Address:Floor 4 Viettel Building, No.9, Vo Thi Sau Street, Nha Trang City , Khanh Hoa, VietnamSign in to access your portfolio
Yahoo
2 hours ago
- Yahoo
Indian dealers offer steeper discounts as price rally dulls demand
By Rajendra Jadhav and Brijesh Patel (Reuters) - Gold discounts in India widened this week to their highest levels in more than a month, as a rally in domestic prices to near-record highs weighed on demand, while elevated rates also dampened buying across other major Asian hubs. Domestic gold prices were trading around 98,300 rupees per 10 grams on Friday, after rebounding from a low of 90,890 rupees last month and nearing the all-time high of 99,358 rupees. The spike in prices forced Indian dealers to offer discounts of up to $56 an ounce below official domestic prices, which include a 6% import duty and 3% sales tax, up from $31 last week. "Prices have gone up, and that's really hit demand. Hardly anyone was buying this week," said Harshad Ajmera of wholesaler JJ Gold House in Kolkata. Gold demand in India typically remains subdued during the monsoon season, which began earlier than usual this year. Jewellers are not making purchases because the lean demand season has started, and they don't want to build high-cost inventory, said a Mumbai-based bullion dealer with a private bank. Meanwhile, dealers in top gold consumer China charged premiums of $10-$14 an ounce over the global benchmark spot price. Last week, bullion changed hands at par to a $15 premium. "Elevated gold prices appear to have negatively impacted Chinese demand, judging by weaker trading volume," said Hugo Pascal, a precious metals trader at InProved. In Hong Kong, gold was sold at a premium of $0.30 to $1.30, while in Singapore gold traded between at-par prices and a $2.50 premium. "We've seen some of our clients coming to take profit and also on the wholesale side, we've seen some selling because prices are high," said Brian Lan, managing director at Singapore-based GoldSilver Central. In Japan, bullion traded anywhere between a discount of $0.5 and a $0.5 premium over spot prices.
