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Wall Street Journal
23 minutes ago
- Wall Street Journal
Gold Steady as Traders Assess Geopolitical, Tariff Developments
2339 GMT — Gold is steady in the early Asian session as traders assess geopolitical and tariff developments. On the one hand, President Trump said there was a 'good chance' he would meet soon with Russian President Putin about the war in Ukraine, which might reduce the precious metal's safe-haven appeal. On the other hand, Trump is doubling tariffs on India to 50% with India condemning the new tariffs, which could increase U.S.-India trade tensions. 'The coming hours and days may play a key role in shaping [gold] market dynamics,' says Samer Hasn, senior market analyst at in an email. Spot gold is 0.1% higher at $3,368.47/oz. (
Wall Street Journal
26 minutes ago
- Wall Street Journal
USD/INR Could Stay Above Mid-87 Level Amid High Risk of Extra U.S. Tariff
0209 GMT – USD/INR could stay above mid-87 level amid elevated risks of secondary U.S. tariffs on India, DBS Group Research's Chang Wei Liang says in commentary. President Trump announced Wednesday an extra 25% levy on imports from India due to its Russian oil purchases. 'Trump is certainly looking for ways to pressure Russia, having threatened Russia with further economic sanctions if it does not agree to a cease-fire by this Friday,' the FX and credit strategist says. Hence, the U.S.'s planned secondary tariffs on India may not be easily negotiated away without a broader geopolitical deal, or a complete stoppage of Russian oil imports, the strategist adds. USD/INR is 0.1% higher at 87.7550, LSEG data show. ( 0130 GMT — The yen weakens slightly against most G-10 and Asian currencies in Asia amid mild risk-on sentiment spurred by some positive developments. There's news of a possible meeting between U.S. President Trump, Russian President Putin and Ukrainian President Zelensky as soon as next week, NAB's Ray Attrill says in commentary. Also, more Fed officials are lining up in support of monetary easing by the U.S. central bank as early as September, the head of forex research adds. USD/JPY rises 0.2% to 147.65, AUD/JPY edges 0.1% higher to 95.96; EUR/JPY is 0.1% higher at 172.02, FactSet data show. (
Yahoo
35 minutes ago
- Yahoo
Trump tells Russia's Medvedev to ‘watch his words'
President Trump issued a warning early Thursday morning to former Russian President and Prime Minister Dmitry Medvedev after he criticized Trump's foreign policy, telling him to 'watch his words.' 'I don't care what India does with Russia,' Trump wrote on Truth Social. 'They can take their dead economies down together, for all I care. We have done very little business with India, their Tariffs are too high, among the highest in the World.' 'Likewise, Russia and the USA do almost no business together. Let's keep it that way, and tell Medvedev, the failed former President of Russia, who thinks he's still President, to watch his words. He's entering very dangerous territory!' the president added. Since returning to office in January, Trump and his administration have pushed for an end to the more than three-year war between Russia and Ukraine, without much success. At times, the president has aired frustration with both sides over lack of progress on a ceasefire agreement, despite several rounds of peace talks. Earlier this month, he gave the two nations a 50-day deadline to reach a deal, threatening Russia and its allies, including India, with increased sanctions. Trump re-upped the push Wednesday, saying he would impose a 25 percent tariff on India as a penalty for purchasing Russian military equipment and gas. He also signaled he could shorten the timeline — which now falls in early September — for the Kremlin to agree to a peace deal and end its onslaught on Ukraine, which has largely been on board with ceasefire proposals. The president also said Monday, during a sit-down conversation with British Prime Minister Keir Starmer in Scotland, that he could start imposing sanctions on Russia in 'about 10 or 12 days.' Medvedev, in response, knocked Trump for 'playing the ultimatum game.' 'Trump's playing the ultimatum game with Russia: 50 days or 10… He should remember 2 things: 1. Russia isn't Israel or even Iran. 2. Each new ultimatum is a threat and a step towards war,' Medvedev, deputy chair of Russia's Security Council, wrote on the social platform X. 'Not between Russia and Ukraine, but with his own country.' 'Don't go down the Sleepy Joe road!' he added, using Trump's nickname for former President Biden. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Solve the daily Crossword
