Gold dips 2% as US-China trade tensions ease, dollar rises
Gold prices
fell 2% on Friday and were on track for a weekly dip as the dollar rose and signs of easing U.S.-China trade tensions after a report that Beijing had exempted some U.S. goods from its
tariffs
weighed on
bullion
.
Spot gold was down 1.7% at $3,292.99 an ounce as of 1:39 a.m. EDT (1739 GMT), after it fell as much as 2% earlier in the session. Bullion is down 1.2% for the week.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Play War Thunder now for free
War Thunder
Play Now
Undo
U.S. gold futures settled 1.5% lower at $3,298.40.
Play Video
Pause
Skip Backward
Skip Forward
Unmute
Current Time
0:00
/
Duration
0:00
Loaded
:
0%
0:00
Stream Type
LIVE
Seek to live, currently behind live
LIVE
Remaining Time
-
0:00
1x
Playback Rate
Chapters
Chapters
Descriptions
descriptions off
, selected
Captions
captions settings
, opens captions settings dialog
captions off
, selected
Audio Track
default
, selected
Picture-in-Picture
Fullscreen
This is a modal window.
Beginning of dialog window. Escape will cancel and close the window.
Text
Color
White
Black
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Opaque
Semi-Transparent
Text Background
Color
Black
White
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Opaque
Semi-Transparent
Transparent
Caption Area Background
Color
Black
White
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Transparent
Semi-Transparent
Opaque
Font Size
50%
75%
100%
125%
150%
175%
200%
300%
400%
Text Edge Style
None
Raised
Depressed
Uniform
Drop shadow
Font Family
Proportional Sans-Serif
Monospace Sans-Serif
Proportional Serif
Monospace Serif
Casual
Script
Small Caps
Reset
restore all settings to the default values
Done
Close Modal Dialog
End of dialog window.
"The apparent detente on tariffs is negatively affecting gold prices ... But so far we've not seen substantial liquidations," said TD Securities
commodity strategist
Daniel Ghali.
"However, we know that they've continued to buy the dip over the last few sessions, so we think gold can resume its upward trajectory."
Live Events
China is considering exempting some U.S. imports from its 125% tariffs and is asking businesses to identify goods that could be eligible, according to the businesses notified.
Earlier this week, U.S. President Donald Trump suggested a de-escalation of the tit-for-tat tariff battle, saying direct talks were already underway.
The U.S. dollar, meanwhile, rose and was on track for its first weekly gain since March, making bullion more expensive for overseas buyers.
Gold, traditionally seen as a hedge against geopolitical and economic uncertainties, scaled a record high of $3,500.05 per ounce and has gained more than 25% so far this year, owing to U.S.-China trade tensions and strong central bank demand.
"Trade war concerns were the main reason behind all the prior gold buying. But it could still be a while before we see actual progress and so those concerns are not completely gone just yet," said Fawad Razaqzada, market analyst at City Index and FOREX.com.
Elsewhere, spot silver slipped 1.6% to $33.03 an ounce, but was heading for its third consecutive week of gains.
Platinum fell 0.5% to $965.53 and palladium dipped 1.8% to $936.89.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
29 minutes ago
- Mint
How Trump's trade war is supercharging fast fashion industry
Sydney, When US President Donald Trump introduced sweeping new tariffs on Chinese imports the goal was to bring manufacturing back to American soil and protect local jobs. However, this process of re-shoring is complex and requires years of investment and planning – far too slow for the world of ultra-fast fashion, where brands are used to reacting in weeks, not years. Many clothing companies started to move production out of China during Trump's first term. They relocated to countries such as Vietnam and Cambodia when the initial China-specific tariffs hit. This trend accelerated with the newer 'reciprocal' tariffs. Instead of re-shoring production, many fashion brands are simply sourcing from whichever country offers the lowest total cost after tariffs. The result? The ultra-fast fashion machine adapted quickly and became even more exploitative. From Guangzhou to your wardrobe in days Platforms such as Shein and Temu built their success by offering trend-driven clothing at shockingly low prices. A USD 5 dress or USD 3 top might seem like a bargain, but those prices hide a lot. Much of Shein's production takes place in the so-called 'Shein village' in Guangzhou, China, where workers often sew for 12–14 hours a day under poor conditions to keep pace with the demand for new items. When the US cracked down on Chinese imports, the intention was to make American-made goods more competitive. This included raising the tariff on Chinese goods as high as 145 per cent , and closing the 'de minimis' loophole, which had allowed imports under USD 800 to enter tariff-free. But these tariffs did not halt ultra-fast fashion. They just rerouted production to countries with lower tariffs and even lower labour costs. The Philippines, with a comparatively low tariff rate of 17 per cent, emerged as a surprising alternative. However, the country can't provide the industrial scale and infrastructure to match what China can offer. So why does Australia matter? Much of the cheap fashion previously bound for the US is now flooding other markets, including Australia. Australia still allows most low-value imports to enter tax-free, and platforms such as Shein and Temu have taken full advantage. Australian consumers are among the most frequent Shein and Temu buyers per capita globally. Just 3 per cent of clothing is made in Australia and most labels rely on offshore manufacturing. This makes Australia an ideal target market for ultra-fast fashion imports. We have high purchasing power, lenient import rules and strong demand for low-cost style, especially due to the cost-of-living crisis. The hidden costs of cheap clothes The environmental impact of fast fashion is well known. However, amid the chaos of Trump's tariff announcements, far less attention has been paid to how these policies – together with the retreat from climate commitments – worsen environmental harms, including those linked to fast fashion. The irony is that the tariffs meant to protect American workers have, in some cases, worsened conditions for workers elsewhere. Meanwhile, consumers in Australia now benefit from faster delivery of even cheaper goods as Temu, Shein and others have improved their shipping capabilities to Australia. Australian consumers send more than 200,000 tonnes of clothing to landfill each year. But the deeper problem is structural. The entire business model is built on exploitation and environmental damage. Factory workers bear the brunt of cost-cutting. In the race to stay competitive, many manufacturers reduce wages and overlook hazardous working conditions. Will ethical fashion ever compete? Fixing these problems will require a global rethink of how fashion operates. Governments have a role in regulating disclosures about supply chains and enforcing labour standards. Brands need to take responsibility for the conditions in their factories, whether directly owned or outsourced. Transparency is essential. Alternatives to fast fashion are gaining traction. Clothing rentals are emerging as a promising business model that help build a more circular fashion economy. Charity-run op shops have long been a sustainable source of second-hand clothing. Australia's new Seamless scheme seeks to make fashion brands responsible for the full life of the clothes they sell. The aim is to help people buy, wear and recycle clothes in a more sustainable way. Consumers also matter. If we continue to expect clothes to cost less than a cup of coffee, change will be slow. Recognising that a USD 5 t-shirt has hidden costs, borne by people on the factory floor and the environment, is a first step. Some ethical brands are already showing a better way and offer clothes made under fairer conditions and with sustainable materials. These clothes are not as cheap or fast, but they represent a more conscious alternative especially for consumers concerned about synthetic fibres, toxic chemicals and environmental harm. Trump reshuffled the deck, but did not change the game Trump's trade rules aim to re-balance global trade in favour of American industry, yet have cost companies more than USD 34 billion in lost sales and higher costs. This cost will eventually fall on US consumers. In ultra-fast fashion, it mostly exposed how fragile and exploitative the system already was. Today, brands such as Shein and Temu are thriving in Australia. But unless we address the systemic inequalities in fashion production and rethink the incentives that drive this market, the true cost of cheap clothing will continue to be paid by those least able to afford it. PY PY This article was generated from an automated news agency feed without modifications to text.
Time of India
31 minutes ago
- Time of India
Opinion: How unsecured lending can revolutionize credit access for women MSME entrepreneurs
One of the most significant obstacles is credit access. (AI image) By Hardika Shah Over the past few decades, India as a nation has increasingly come to recognize the significance of women's participation in the formal economy. In alignment with this shift, the last couple of years have witnessed a rise in women's participation in the workforce. According to the Economic Survey, the Female Labour Force Participation Rate (FLFPR) had increased over the past several years from 23.3% in 2017-18 to 41.7% in 2023-24. However, when it comes to entrepreneurship, the numbers tell a different story. Women own just 22% of all MSMEs, and their share drops to 12% in the small enterprise segment and a mere 7% in medium enterprises. This stark gap isn't due to a lack of ambition or ability. It's largely a result of systemic and financial barriers, with women accounting for 40% of the financing gap in the sector. The issue is clear: without access to adequate funding, many women entrepreneurs struggle to start or scale their businesses. One of the most significant obstacles is credit access. Traditional lending institutions require asset collateral to be pledged against a loan. Yet, in India, property ownership among women remains disproportionately low. According to data from the National Family Health (NFH) Survey, over 57% of women in India do not own a house either independently or jointly. This leaves many aspiring female entrepreneurs with limited options: either rely on informal lenders who charge exorbitant interest rates or forgo their business aspirations altogether. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Secure Your Child's Future with Strong English Fluency Planet Spark Learn More Undo Unsecured lending presents a revolutionary solution to this problem by eliminating the collateral requirement. Shifting the narrative from risk to opportunity By shifting the focus from traditional asset-backed lending to alternative models, financial institutions can unlock a massive, underserved market while enabling women-led businesses to thrive. Interestingly, women borrowers have consistently demonstrated lower default rates, challenging the misconception that they pose a higher credit risk. A World Bank study confirmed that women exhibit stronger repayment behavior, a trend echoed in our findings, where women entrepreneurs showed a lower default rate of 3.4% compared to 4.6% for male borrowers. Despite being better borrowers, women entrepreneurs continue to face deeply entrenched biases in the lending ecosystem. Early-stage funding, particularly through loans with small ticket sizes that can be serviced easily, can be a game-changer for these entrepreneurs. The demand for financing among women MSME entrepreneurs is evident, with women accounting for about 68% of the total Mudra loans disbursed. Further, the fall in the aggregate NPA of Pradhan Mantri Mudra Yojana (PMMY) loans from 4.9% in 2019-20 to 3.4% in 2023-24 reinforces that unsecured MSME lending isn't inherently risky, and in fact, collateral-free loans can be a changemaker for the growth of MSMEs. Technology-driven lending models further strengthen this shift and help lenders see women borrowers as a promising segment rather than a high-risk one. AI/ML-based credit assessment systems allow financial institutions to evaluate borrowers based on business performance and cash flow. Recognizing this, the government has announced the development of an alternative credit decisioning model that aims to integrate non-traditional data sources such as transaction history, GST filings, and utility payments into credit assessments. As these innovations gain traction, they will enable a more inclusive lending ecosystem, ensuring women entrepreneurs receive the financial support they need to scale their businesses. Helming a generational shift Access to finance lends agency to women entrepreneurs. When they gain direct access to credit, women take control of their financial decisions, no longer remaining reliant on male family members as guarantors or intermediaries. This independence has transformative effects. According to data from the United Nations, women reinvest up to 90% of their earnings back into their families and communities, amplifying the impact of their success. According to data from the Udyam Registration Portal, women-led MSMEs contribute over 20% of total MSME sector employment in India, playing a crucial role in job creation. The success of women-owned businesses fosters social resilience by challenging gender norms and encouraging more women to pursue entrepreneurship and employment. Our MSME Insights survey (published in March '24) found that women-owned MSMEs that received formal credit created 11% more jobs for women than male-owned businesses, with a third of all new jobs in these enterprises going to women. Women entrepreneurs demonstrated a 14% increase in monthly net income. Towards a more inclusive financial future Access to finance is a foundational step, but it is not enough. Women entrepreneurs also require mentorship, business training, and access to networks to navigate the complexities of scaling a business. Government initiatives like the Women Entrepreneurship Platform and credit schemes such as the Pradhan Mantri Mudra Yojana (PMMY) and the Stand Up India Scheme have made strides in this direction, but more targeted efforts are needed to ensure last-mile accessibility. Digital literacy, in particular, remains a challenge. According to data from GSMA, the mobile usage gender gap in India stands at 30%, which means women are significantly less likely than men to access mobile internet. This disparity limits their ability to leverage digital banking, e-commerce, and online marketing. Bridging this gap through financial literacy programs and digital training can significantly enhance the effectiveness of unsecured lending by ensuring women entrepreneurs can maximize the benefits of formal financing. The impact of supporting women entrepreneurs extends far beyond economic gains. It has the potential to catalyze a generational shift, where more women enter the workforce, pursue higher education, and challenge deeply ingrained societal norms. Financial independence translates into greater decision-making power, not just in business but in all aspects of life. The Government of India has set ambitious targets for economic growth, aiming for a $30 trillion GDP by 2047. Bain & Company estimates that nearly 45% of this growth must come from increased women's workforce participation. If India is to meet these goals, financial inclusion for women entrepreneurs cannot remain a secondary priority, it must be a central pillar of the country's economic strategy. Unsecured lending is a critical tool of empowerment, a catalyst for progress, and a necessary step towards a more equitable and prosperous future. (The author is Founder & CEO, Kinara Capital) Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
34 minutes ago
- Time of India
This Vedanta subsidiary's shares surge 4% ahead of June 11 board meeting to consider interim dividend
Shares of Hindustan Zinc rose 4% on Monday to close at Rs 522.40 on the BSE, as investor sentiment turned upbeat ahead of the company's scheduled board meeting on June 11, 2025, to consider and approve the first interim dividend for the financial year 2025–26. 'Pursuant to Regulation 29 of SEBI Listing Regulations, Notice is hereby given that the Board of Directors of the Company ('Board') on Wednesday, June 11, 2025, will consider and approve the first Interim Dividend on equity shares, if any, for the Financial Year 2025-26,' the company informed to the stock exchanges via a regulatory filing. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Linda Kozlowski, 67, Shows Off Her Perfect Figure In A New Photo Today's NYC In an earlier regulatory filing, the Vedanta Group subsidiary announced that its board will meet on Wednesday to decide on the interim dividend, if any, on equity shares. The company also stated that June 17, 2025, has been fixed as the record date for determining the eligibility of shareholders to receive the dividend, if declared. Further, in line with SEBI's insider trading regulations, Hindustan Zinc has closed its trading window for designated persons from June 9 to June 13, 2025, both days inclusive, ahead of the board deliberations. Live Events Also read: MCX shares rise 4%, hit lifetime high on Sebi's nod for launch of electricity derivatives Hindustan Zinc dividend history Over the past 12 months, Hindustan Zinc Ltd. has announced a total equity dividend of Rs 19 per share. Based on the current share price of Rs 517, this translates to a dividend yield of 3.68%. Hindustan Zinc share price performance The shares of Hindustan Zinc have declined 24.25% over the past 1 year, despite showing a 17.31% gain year-to-date (YTD). In the last 6 months, the stock has moved up by 2.89%, while the 3-month return stands at 21.47%. Notably, the stock has surged 27.70% in the last 1 month, indicating strong short-term momentum. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
