Trump announces 25% tariff on India starting Aug. 1, unspecified penalties for buying Russian energy
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Yahoo
8 minutes ago
- Yahoo
Gold succumbs to profit-taking after US jobs data-fuelled rally
By Anushree Mukherjee and Brijesh Patel (Reuters) -Gold prices slipped on Monday as investors booked profits after a sharp rise in the previous session following weaker-than-expected U.S. jobs data that boosted expectations for a Federal Reserve interest rate cut in September. Spot gold lost 0.3% to $3,354.17 per ounce as of 0229 GMT. Bullion had risen more than 2% on Friday. However, U.S. gold futures gained 0.2% to $3,407.10. "Gold has made a conservative start to the week following Friday's price jump. A combination of profit taking and dollar stabilisation has caused gold to ease marginally to kick-off the week," KCM Trade Chief Market Analyst Tim Waterer said. Asian markets tracked Wall Street lower as fears for the U.S. economy returned with a vengeance, prompting investors to price in an almost certain rate cut in September and undermining the dollar. [MKTS/GLOB] Last week, U.S. job growth slowed more than expected in July, with nonfarm payrolls increasing by 73,000 jobs last month, after rising by a downwardly revised 14,000 in June, the Labor Department's Bureau of Labor Statistics said. This revived hopes of a Fed rate cut in September, with markets now pricing in an 81% chance, per CME FedWatch tool. The tariffs U.S. President Donald Trump imposed last week on scores of countries are likely to stay in place rather than be cut as part of continuing negotiations, Trade Representative Jamieson Greer said in comments aired on Sunday. "But with Trump on the tariff warpath once again, and the soft U.S. jobs report increasing the odds that we could see a September FOMC rate cut, any pullbacks in the precious metal could be of a shallow nature," Waterer added. Gold, traditionally considered a safe-haven asset during political and economic uncertainties, tends to thrive in a low-interest-rate environment. Spot silver fell 0.6% to $36.80 per ounce, platinum slipped 0.6% to $1,307.02 and palladium eased 0.9% to $1,197.76.
Bloomberg
10 minutes ago
- Bloomberg
Indian Stock Market Mood Gets Cautious as Tariffs Weigh on Sentiments
Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at: Good morning, this is Savio Shetty, an equities reporter in Mumbai. After five straight weeks in the red, the mood in Indian markets is not any better this morning. Early cues from Nifty futures suggest a muted start, as weak US economic data and tariff worries weigh on global sentiment. Back home, investors will be monitoring earnings from real estate major DLF and consumer goods major Marico.
Fox News
10 minutes ago
- Fox News
Trump praises Sydney Sweeney's ad campaign after learning she's a registered Republican
President Trump on Sunday reacted positively upon learning actress Sydney Sweeney is a registered Republican, adding that he now finds her controversial American Eagle ad campaign to be "fantastic."
