White House considers inviting Zelenskyy to Alaska ahead of Trump-Putin meeting
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Yahoo
6 minutes ago
- Yahoo
Gold Holds Loss as Traders Seek Clarity on Trump's No-Tariff Vow
(Bloomberg) -- Gold held a loss after President Donald Trump said imports of bullion won't be subject to US tariffs, although traders were still waiting for formal clarification over the policy following a federal ruling last week that sowed chaos and confusion across the market. Spot gold held near $3,345 an ounce on Tuesday, following a 1.6% drop on in the previous session after Trump posted 'Gold will not be Tariffed!' on social media. Futures of the precious metal in New York edged lower, after a 2.5% plunge on Monday. Invest in Gold American Hartford Gold: #1 Precious Metals Dealer in the Nation Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase Thor Metals Group: Best Overall Gold IRA Sunseeking Germans Face Swiss Backlash Over Alpine Holiday Congestion New York Warns of $34 Billion Budget Hole, Biggest Since 2009 Crisis To Head Off Severe Storm Surges, Nova Scotia Invests in 'Living Shorelines' Chicago Schools' Bond Penalty Widens as $734 Million Gap Looms A New Stage for the Theater That Gave America Shakespeare in the Park US Customs and Border Protection stunned traders last week by ruling the imports would be subject to duties. The shock led futures on New York's Comex to surge more than $100 an ounce above benchmark spot prices in London on Friday. The spread has since narrowed to about $50. Washington's decision regarding gold tariffs has sweeping implications for the flow of bullion around the world, and potentially for the smooth functioning of the US futures contract. The administration had exempted the precious metal from duties in April, and until there is long-term clarity, traders say, precious metals markets will remain on edge. Gold has climbed more than a quarter this year, with the bulk of those gains occurring in the first four months. It's been supported by geopolitical and trade tensions that have spurred haven demand, along with strong central bank purchases. Elsewhere, the dollar held a gain ahead of a US inflation report due later Tuesday that may offer clues on the Federal Reserve's monetary policy path. Higher rates are negative for non-interest bearing gold, while a stronger greenback tends to make the dollar-denominated commodity more expensive for most buyers. Investors were also weighing Trump's move on Monday to extend a tariff truce on Chinese goods for another 90 days into early November. The move should ease worries of a renewed trade war between the two biggest economies, reducing haven demand. Spot gold rose 0.1% to $3,345.12 an ounce as of 8:15 a.m. in London. The Bloomberg Dollar Spot Index dipped 0.1%, after posting a 0.3% gain on Monday. Silver advanced, palladium was flat, while platinum fell. Why It's Actually a Good Time to Buy a House, According to a Zillow Economist Bessent on Tariffs, Deficits and Embracing Trump's Economic Plan The Social Media Trend Machine Is Spitting Out Weirder and Weirder Results Klarna Cashed In on 'Buy Now, Pay Later.' Now It Wants to Be a Bank The Game Starts at 8. The Robbery Starts at 8:01 ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
6 minutes ago
- Bloomberg
Trump Extends China Truce for 90 Days, Averting Tariff Hike
Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins. On today's show, President Donald Trump extended a pause of tariffs on Chinese goods for another 90 days into early November, stabilizing trade ties between the world's two largest economies. Trump signed an order extending the truce through Nov. 10, deferring a tariff hike set for Tuesday, with 'All other elements of the Agreement' remaining the same, according to Trump. Elsewhere, China has urged local companies to avoid using Nvidia Corp.'s H20 processors, particularly for government-related purposes, according to people familiar with the matter. Today's guest: Vidya Peters, DataSnipper CEO. (Source: Bloomberg)
Newsweek
9 minutes ago
- Newsweek
Trump's EU Allies Send Him New Ukraine Plea Ahead of Putin Summit
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. European Union (EU) leaders issued a fresh joint appeal to U.S. President Donald Trump on Ukraine, imploring him ahead of his crunch summit with Russian President Vladimir Putin in Alaska on Friday, August 15. Kyiv and its European allies fear Trump will consent to the concession of Ukrainian territory Moscow has seized during its invasion, which they say will reward Russia for its unlawful aggression and signal that it could take similar action elsewhere. Twenty-six EU leaders—Hungary being the only member state that did not want to co-sign—said in the statement Tuesday that they welcomed Trump's efforts to end Russia's invasion and seek "a just and lasting peace and security for Ukraine". But they warned: "A just and lasting peace that brings stability and security must respect international law, including the principles of independence, sovereignty, territorial integrity and that international borders must not be changed by force. "The people of Ukraine must have the freedom to decide their future. The path to peace in Ukraine cannot be decided without Ukraine. Meaningful negotiations can only take place in the context of a ceasefire or reduction of hostilities. "Russia's war of aggression against Ukraine has wider implications for European and international security. We share the conviction that a diplomatic solution must protect Ukraine's and Europe's vital security interests." This is a developing article. Updates to follow.
