Latest news with #US-Europe
Time of India
27-05-2025
- Business
- Time of India
Gold price prediction today: Where are gold rates headed on May 27, 2025 and in the near-term?
Gold may fall further on easing trade tensions following President Trump delaying the European tariff to July 9. (AI image) Gold price prediction today: Gold rates have been fluctuating in the last few weeks and no clear upside or downside is obvious. Global events, such as Donald Trump's tariff moves and geopolitical conflicts are shaping the movement of gold prices on a daily basis. In such uncertain scenarios, what should investors do? What's the outlook on gold prices in the near term? Praveen Singh, Senior Fundamental Research Analyst- Currencies and Commodities at Mirae Asset Sharekhan shares his views: Gold Performance: Spot gold rallied sharply in the week ending May 23 on soaring safe haven demand due to the rating agency Moody's downgrading the US credit rating on May 17 and heightened economic uncertainty due to the US President imposing a 50% tariff on European goods from June 1. The US President Trump has delayed the 50% EU tariffs to July 9. Last week, US treasuries cratered, and the US Dollar Index slumped on worries over the state of the US economy. Spot gold recorded a huge weekly gain of 4.84% as it closed at $3357; it was up by 1.89% on Friday. Yesterday, the US markets were closed to observe Memorial Day Holiday, while the London market is observing Spring Bank Holiday. Tariff developments: On May 23, President Trump said that he would be imposing a 50% tariff on European goods starting June 1 as he felt that US-Europe talks on trade deals were not going anywhere. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like コンピュータでゲームをするのが好きなら、この新しいアドベンチャーゲームは必ずプレイすべきです。 アドベンチャーゲーム ゲームをプレイ Undo Trump's tariff threats were not limited to Europe only. In fact, he also threatened Samsung and Apple with a 25% tariff if their products are not made in the US. Later, on May 25, Trump walked back on tariff threats to Europe as he extended the deadline to July 9 citing positive talks with European Commission President Ursula von der Leyen who said that Europe is ready to advance talks swiftly and decisively. US Dollar Index and yields: Deepening concerns over the US economic outlook amid tariff uncertainty have weighed heavily on the US bonds and the Dollar Index. Both ten-year and thirty-year US yields surged past the post-reciprocal tariff levels last week. On May 22, ten-year US yields soared to 4.62%, highest since February 2025 before backing off on Trump calling for a 50% tariff rate for Europe. Similarly, 30-year yields surged to 5.15%, highest since October 2023. Ten-year and thirty-year yields closed at the highest weekly levels since January 1 and October 27 respectively. The US Dollar Index fell nearly 2% last week to end at 99.11, the lowest daily close since April 28, and is currently at 99.03 is down by around 0.07%. The Index is threatening to breach the post reciprocal low of 97.92 reached on April 21. ETF holdings: Total known global gold ETF holdings stood at 87.86 MOz as of May 23, down nearly 2% from the peak level of 89.77 MOz seen on April 21; holdings fell for the fifth straight week to the lowest level since April 8. Nonetheless, holdings are still up over 6% YTD. Weekly CFTC gold data: Hedge Fund managers have increased their bullish gold bets by 7,741 bet-long positions to 118,615, the most bullish position in four-weeks, as the short-only total fell to the lowest in eight weeks. Upcoming data and events: Major US data and reports to be released this week include Conference Board Consumer Confidence (May), FOMC minutes (May 7 meeting), GDP (1Q secondary estimate), real personal spending (April), PCE price Index (April) - the Fed's preferred gauge of inflation and University of Michigan Sentiment (May Final) and short-term and long-term inflation expectations. Gold Price Outlook: Gold may fall further on easing trade tensions following President Trump delaying the European tariff to July 9. On Monday, the metal had swung between $3324 and $3358, relatively a narrower range, as New York and London markets were on holiday. Near-term support is seen at $3311/$3292 followed by $3275 and $3250. This week, if no further developments on tariff fronts, is likely to be marked with data driven volatility, as the US economic calendar is quite busy. Easing trade tensions may push the prices further down. Traders may sell with stoploss above $3365-$3371 resistance zone. However, downside may be somewhat limited -- may be up to $3292/$3275 or so, on concerns due to erratic trade policies of the US. A correction in gold prices will then give an opportunity to go long on the yellow metal with stoploss below $3250. On the upside, a breach of $3365-$3371 resistance zone will open the way for $3435. Above $3435, the all-time high of $3500 will come into the focus. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Epoch Times
23-05-2025
- Business
- Epoch Times
Beijing Courts Europe as Trade War With US Grinds On: Australia Institute
The Chinese Communist Party's (CCP) foreign policymakers see Donald Trump's tariffs as dangerous, but not insurmountable, according to the Australia Institute. But while attention has been focused on Beijing's response to Washington, there have also been efforts by the CCP to strengthen ties with Europe and Russia. That's one of the conclusions of the Australia Institute's latest six-monthly commentary on Beijing's foreign policy authored by Frank Yuan, a postdoctoral fellow in history. 'Beijing espouses much hope about its relationship with Europe. Chinese leaders have declared that there are neither fundamental conflicts in interest nor geopolitical tensions between itself and the EU, that their relationship is that between partners, and that both were defenders of the global multilateral trade system,' Yuan notes, citing the Chinese Ministry of Foreign Affairs (MFA). 'Beijing also identified Europe as an important pole in the multipolar world and, implicitly distancing itself from Moscow, declared that China had always supported the progress of the EU.' Currently, CCP officials are optimistic about Sino-American relations after Trump offered some reductions to tariff levels though they've not been averse to using combative rhetoric, asserting, for instance, that the trade war was a malicious attack on China's right to development, Yuan says. Related Stories 5/16/2025 5/12/2025 America's continued supply of arms to Taiwan and its expanding ties with Taipei are viewed as further provocation—not just interference in what Beijing sees as Chinese domestic affairs, but also an attempt to 'contain China through Taiwan,' as the MFA said last year. That makes attempts at building stronger alliances with European nations an obvious option for the CCP foreign policy establishment. CCP Does Not Think US-Europe Ties Will Weaken While U.S. Vice President JD Vance was less than complimentary about Europe at the Munich Security Conference in mid-February—when he criticised the European Union leaders for what he described as backsliding on freedom of speech and democracy—Chinese analysts did not see this as a major reset in U.S.-EU relations, as many Western commentators did, Yuan says. 'There was no suggestion from Chinese sources that European governments would seek to break from their alliance with Washington, particularly given their lack of independent defence capability,' he says. Beijing's more conciliatory approach to Europe is part of a strategy to 'quarantine' those relations from any disputes it may have with America. 'In a telling example, the MFA made a low-key response to a report that German intelligence agencies had information that COVID-19 emerged from a laboratory in Wuhan, and did not criticise the German media or government over what had been a highly sensitive issue for Beijing,' Yuan notes. Similarly, 'reports of the EU's investigation into Chinese trade practices in medical equipment, likewise, only elicited a vague statement that did not explicitly criticise Brussels.' Beijing has also refrained from endorsing Russia's invasion of Ukraine, with Foreign Minister Wang Yi saying, in an interview at the Munich conference, that 'all disputes and disagreements should be settled through dialogue in a political way because force and sanction cannot truly and completely solve the issue… the same goes for the Ukraine issue.' He also reiterated China's basic views on settling the war, which include respect for 'the sovereignty and territorial integrity of all countries.' 'While Beijing clearly disagrees with the sanctions imposed by the U.S. and its allies on Russia, it is not shy to signal its discomfort with Russia's use of force, even if it sympathises with Moscow's security concerns,' Yuan says. Beijing Unlikely to Leverage Russia Relationship Likewise, what Yuan calls the 'intrinsic and growing power imbalance between China and Russia' was reflected in both countries' conflicting reports of a meeting between Wang and his Russian counterpart Sergey Lavrov in April. While Beijing's summation said Russia 'fully supports China's position on the Taiwan question,' the official release from Moscow did not mention the issue. Similarly, an article under the name of CCP leader Xi Jinping in a Russian newspaper expressed appreciation for Russia's support of the 'one China principle' but made no reference to the Ukraine war or any support for it. With Beijing assuming the dominant position in its relationship with Russia, it has 'made a multipolar order an organising principle of its foreign policy,' Yuan says, 'and has identified Moscow as a partner in that pursuit.' But it's unlikely that China will seek to strongly assert what it sees as its superior position. 'Public commentary discounts the possibility of Moscow turning against Beijing through a rapid rapprochement with Washington,' Yuan says. 'It identifies significant divergence in interests between the U.S. and Russia, as well as the lack of existing Sino-Russian disputes. 'Nonetheless, one analyst noted the need to maintain a stable and positive relationship with Moscow to hedge against the risk of a Russo-American détente.'
NZ Herald
10-05-2025
- Business
- NZ Herald
European leaders visit Ukraine, urge Russia ceasefire for peace talks
'Alongside the US, we call on Russia to agree a full and unconditional 30-day ceasefire to create the space for talks on a just and lasting peace,' the leaders said before the visit. 'We are ready to support peace talks as soon as possible, to discuss technical implementation of the ceasefire, and prepare for a full peace deal,' they added. 'We are clear the bloodshed must end, Russia must stop its illegal invasion and Ukraine must be able to prosper as a safe, secure and sovereign nation within its internationally recognised borders for generations to come.' They warned: 'We will continue to increase our support for Ukraine. Until Russia agrees to an enduring ceasefire, we will ratchet up pressure on Russia's war machine.' For Merz, who took office only this week, it will be his first visit to Ukraine as chancellor. Macron has not been to Kyiv since June 2022 when he went with the Italian and German leaders of the time. In the talks with Zelenskyy they will make their 'steadfast commitment to Ukraine', the statement said. 'We, the leaders of France, Germany, Poland and the United Kingdom will stand in Kyiv in solidarity with Ukraine against Russia's barbaric and illegal full-scale invasion,' they said. 'We reiterate our backing for President Trump's calls for a peace deal and call on Russia to stop obstructing efforts to secure an enduring peace.' After meeting Zelenskyy in the morning, they are to host a virtual meeting to update other European leaders on moves to create a European force that could provide Ukraine with security after the war. Such a force 'would help regenerate Ukraine's armed forces after any peace deal and strengthen confidence in any future peace', the statement said. After meeting Tusk in France on Friday, Macron called for the speedy drawing up of a US-Europe plan for the 30-day truce that would be backed by 'massive economic sanctions' if one side 'betrays it'. Finland's President Alexander Stubb said at a meeting in Norway on Friday to discuss Ukraine that the 'United States has two sanctions packages on the table' and that countries were discussing action in the 'banking and the energy sector'. Macron said Putin's 'belligerent comments' at the Red Square parade showed he remained 'on the side of war'. But he also said talks about territory could be held once a ceasefire starts. Russia has occupied about a fifth of Ukrainian territory and has yet to respond to the pressure for an enduring ceasefire. Trump has also said Ukraine will have to consider giving up territory but has expressed growing impatience with Russia's refusal to halt the fighting. The timing of the visit is striking, coming a day after Putin hosted Chinese President Xi Jinping and Slovak Prime Minister Robert Fico, whose country is an EU member, at the Moscow parade. A French presidential official, who asked not to be named, said the visit just four days after Merz took office 'demonstrates Europe's unity, strength, and responsiveness. And it mirrors Putin's celebrations.' But Europe's divisions were highlighted when Fico went to Moscow for its military parade on Friday. Ukraine and Hungary in turn each expelled two diplomats from the other's embassy in a showdown over spying allegations.
Indian Express
07-05-2025
- Politics
- Indian Express
Biden slams Trump's Ukraine policy as ‘modern-day appeasement'
In his first interview since leaving the White House, former US President Joe Biden has strongly criticised the Trump administration's position on Ukraine, warning that calls for Kyiv to cede territory to Russia amount to 'modern-day appeasement.' Speaking from Delaware in an exclusive interview with the BBC's Radio 4 Today programme, Biden said that Russian President Vladimir Putin views Ukraine as part of Russia and warned against assuming that conceding land would stop further aggression. 'Anybody that thinks he's going to stop (if territory is conceded) is just foolish,' he told the BBC. Biden's remarks come as Allied nations mark the 80th anniversary of Victory Day. He expressed alarm over the potential breakdown of US-Europe relations under President Donald Trump, telling the BBC that it 'would change the modern history of the world.' The interview covered a wide range of topics, including Biden's own legacy on Ukraine, his decision to exit the 2024 presidential race, and the direction of Trump's second term. Biden dropped out less than four months before the election following a debate performance that raised concerns about his age and capabilities. When asked if he should have stepped aside earlier to allow more time for a successor, he responded, 'I don't think it would have mattered. We left at a time when we had a good candidate.' He added, 'things moved so quickly that it made it difficult to walk away. And it was a hard decision… I think it was the right decision. I think that… it was just a difficult decision.' Addressing US foreign policy under Trump, Biden rejected recent remarks by Trump calling for the US to reclaim the Panama Canal, acquire Greenland, and make Canada the 51st state. 'What the hell's going on here? What president ever talks like that? That's not who we are,' Biden told the BBC. 'We're about freedom, democracy, opportunity, not about confiscation.' On the war in Ukraine, Biden defended his administration's support for Kyiv during his presidency, asserting, 'we gave them everything they needed to provide for their independence, and we were prepared to respond, more aggressively, if Putin moved again.' He also condemned recent Trump administration suggestions that Ukraine should agree to territorial concessions in exchange for peace. Vice President JD Vance recently said a peace deal would 'freeze the territorial lines… close to where they are today,' while Defence Secretary Pete Hegseth called a return to Ukraine's pre-2014 borders 'unrealistic.' In response, Biden told the BBC, 'it is modern-day appeasement,' invoking comparisons to former British Prime Minister Neville Chamberlain's failed strategy of appeasing Adolf Hitler before World War II. He also warned of the broader geopolitical consequences of such a move, stating that, 'Europe is going to lose confidence in the certainty of America and the leadership of America.' Trump has previously stated that Russia should retain Crimea, which it annexed in 2014, and last month criticised Ukrainian President Volodymyr Zelensky for rejecting a peace proposal. Media reports suggest recent U.S. proposals might include formal or de facto recognition of Russian control over parts of Ukrainian territory, though the White House has not confirmed such details. When asked about his stance on the matter, Trump said, 'I have no favourites. I don't want to have any favourites. I want to have a deal done.' The BBC noted that pressure to compromise is not only coming from Washington. Last month, Kyiv's mayor Vitali Klitschko told the broadcaster that Ukraine may need to temporarily give up some territory. Biden voiced deep concern about the long-term consequences of such thinking. 'I just don't understand how people think that if we allow a dictator, a thug, to decide he's going to take significant portions of land that aren't his, that that's going to satisfy him. I don't quite understand,' he told the BBC. He warned that if Ukraine concedes territory, some NATO countries bordering Russia might eventually 'just say we've got to make an accommodation.' Relations between Washington and Kyiv have frayed in recent months. In February, a contentious Oval Office meeting saw Trump and Vance scold Zelensky, demanding more public gratitude for American aid. Biden told the BBC he was appalled. 'I found it sort of beneath America in the way that took place,' he said. While the US remains Ukraine's largest individual donor, European nations have collectively contributed more, according to the Kiel Institute. Yet Trump and his officials continue to accuse Europe of not pulling its weight. Biden pushed back on this criticism saying, 'I don't understand how they fail to understand that there's strength in alliances…There's benefits… It saves us money overall.' Asked to compare his record with Trump's first 100 days back in office—which have seen sweeping executive actions and major budget cuts—Biden sought to draw a sharp contrast. 'Our economy was growing. We were moving in a direction where the stock market was way up. We were in a situation where we were expanding our influence around the world in a positive way, increasing trade,' he said of the state of the country when he left office in January. When asked directly for his opinion on Trump's performance since returning to the White House, Biden simply said, 'I'll let history judge that. I don't see anything that was triumphant.'
Yahoo
07-05-2025
- Politics
- Yahoo
Biden accuses Trump of ‘modern-day appeasement' towards Russia
Joe Biden has accused Donald Trump of 'modern-day appeasement' in his approach to Russia and expressed fears that Europe would 'lose confidence in the certainty of America' in his first interview since leaving the White House in January. 'He [Vladimir Putin] believes it [Russia] has historical rights to Ukraine,' Biden told the BBC. Anybody who thought the Russian president would stop if Kyiv conceded territory, as recently proposed by Trump, 'is just foolish', he said. Speaking in Delaware as the Allied nations mark the 80th anniversary of the end of the second world war, Biden said Trump's stance was 'modern-day appeasement' in reference to the attempts of British prime minister Neville Chamberlain's to appease Adolf Hitler in the 1930s. He also said he feared Europe was going to lose confidence in the 'certainty of America and the leadership of America' and that a breakdown of US-Europe relations under Trump 'would change the modern history of the world'. Related: US ex-ambassadors warn of slide into authoritarianism amid 'climate of fear' Biden said the leaders of European nations would be left 'wondering, well, what do I do now? … Can I rely on the United States? Are they going to be there? 'I fear our allies around the world are going to begin to doubt whether we're going to stay where we've always been in the last 80 years,' he said. Biden told Nick Robinson that he found the extraordinary meeting in the Oval Office between Trump and Ukraine's president Volodymyr Zelenskyy 'beneath America'. He went on to condemn Trump's calls for the US to take back the Panama canal, make Canada the 51st American state and seize Greenland. 'What the hell's going on here? What president ever talks like that? That's not who we are,' he said. 'We're about freedom, democracy, opportunity, not about confiscation.' Challenged about his own actions on Ukraine – critics have said he was too slow to supply the weapons Kyiv needed for its defence and lift restrictions on their use – he said: 'We gave them everything they needed to provide for their independence, and we were prepared to respond, more aggressively, if Putin moved again.' Asked about his decision to leave the US presidential race only months before the election, leaving his successor, Kamala Harris little time to prepare, Biden said: 'I don't think it would have mattered. We left at a time when we had a good candidate. 'Things moved so quickly that it made it difficult to walk away. And it was a hard decision,' he said. 'I think it was the right decision. I think that … it was just a difficult decision.'
