Latest news with #safeHaven
Wall Street Journal
3 days ago
- Business
- Wall Street Journal
JGBs Mixed; Trade, Geopolitical Tensions May Support
0014 GMT — JGBs are mixed in price terms in the early Tokyo session, but may be supported by trade and geopolitical tensions that typically enhance the safe-haven appeal of sovereign debt. U.S. President Trump said on Friday that he would increase tariffs on imports of steel and aluminum to 50% from current 25%, effective June 4. Meanwhile, Ukraine launched drone attacks on four military airports inside Russia, destroying more than 40 warplanes. Five-year JGB yield is unchanged at 1.015%; 30-year yield is down 1.5 bps at 2.950%. (
Reuters
23-05-2025
- Business
- Reuters
Gold heads for best week in more than a month on US fiscal worries
May 23 (Reuters) - Gold was set for its best weekly gain in more than a month on Friday, as a softer dollar and mounting concerns about the deteriorating fiscal outlook for the world's biggest economy boosted the metal's safe-haven appeal. Spot gold gained 0.3% to $3,303.92 an ounce as of 0204 GMT. Bullion has risen 3% so far this week and is on track for its best weekly performance since early April. U.S. gold futures added 0.2% to $3,303.00. The dollar (.DXY), opens new tab has lost more than 1% so far this week and is set for its worst weekly performance since April 7, making greenback-priced gold cheaper for holders of other currencies. "This week, trade optimism has somewhat given way to worries about the U.S.'s fiscal situation, and the resulting hesitancy towards U.S. assets has put gold back in the frame with investors," said KCM Trade's Chief Market Analyst, Tim Waterer. "Gold can likely maintain its foothold above the $3,000 level while tariff, U.S. debt and geopolitical (tension) remain swirling around financial markets." The Republican-controlled U.S. House of Representatives passed a sweeping tax and spending bill on Thursday, embedding much of President Donald Trump's policy agenda and adding trillions of dollars more to the national debt. What Trump dubbed a "big, beautiful bill", is now headed to the Senate, which Republicans control by a 53-47 margin. On Wednesday, the U.S. Treasury Department saw soft demand for a $16 billion sale of 20-year bonds. Investor sentiment was already fragile after Moody's downgraded the U.S. triple-A credit rating last week. Gold is used as a safe store of value during political and financial uncertainty. Meanwhile, Iran's Foreign Minister Abbas Araqchi warned that the U.S. would bear legal responsibility for any Israeli attack on Iranian nuclear facilities, following a CNN report that Israel is preparing strikes on Iran. Spot silver rose 0.1% to $33.12 an ounce, platinum firmed 0.4% to $1,084.99 and palladium lost 0.1% to $1,013.63.
Yahoo
23-05-2025
- Business
- Yahoo
Gold heads for best week in more than a month on US fiscal worries
By Anushree Mukherjee (Reuters) - Gold was set for its best weekly gain in more than a month on Friday, as a softer dollar and mounting concerns about the deteriorating fiscal outlook for the world's biggest economy boosted the metal's safe-haven appeal. Spot gold gained 0.3% to $3,303.92 an ounce as of 0204 GMT. Bullion has risen 3% so far this week and is on track for its best weekly performance since early April. U.S. gold futures added 0.2% to $3,303.00. The dollar has lost more than 1% so far this week and is set for its worst weekly performance since April 7, making greenback-priced gold cheaper for holders of other currencies. "This week, trade optimism has somewhat given way to worries about the U.S.'s fiscal situation, and the resulting hesitancy towards U.S. assets has put gold back in the frame with investors," said KCM Trade's Chief Market Analyst, Tim Waterer. "Gold can likely maintain its foothold above the $3,000 level while tariff, U.S. debt and geopolitical (tension) remain swirling around financial markets." The Republican-controlled U.S. House of Representatives passed a sweeping tax and spending bill on Thursday, embedding much of President Donald Trump's policy agenda and adding trillions of dollars more to the national debt. What Trump dubbed a "big, beautiful bill", is now headed to the Senate, which Republicans control by a 53-47 margin. On Wednesday, the U.S. Treasury Department saw soft demand for a $16 billion sale of 20-year bonds. Investor sentiment was already fragile after Moody's downgraded the U.S. triple-A credit rating last week. Gold is used as a safe store of value during political and financial uncertainty. Meanwhile, Iran's Foreign Minister Abbas Araqchi warned that the U.S. would bear legal responsibility for any Israeli attack on Iranian nuclear facilities, following a CNN report that Israel is preparing strikes on Iran. Spot silver rose 0.1% to $33.12 an ounce, platinum firmed 0.4% to $1,084.99 and palladium lost 0.1% to $1,013.63. Sign in to access your portfolio
Crypto Insight
12-05-2025
- Business
- Crypto Insight
US-China trade deal could shed light on Bitcoin's use case: Trader
Bitcoin's potential price reaction to a trade deal between the United States and China could give insights into whether Bitcoin is being used as a safe-haven asset in the current market. Bitcoin outperformed stocks and held up 'incredibly strong' during a sharp sell-off on stock markets in April, following Donald Trump's announcement of tariffs on 'Liberation Day,' observed crypto trader 'Daan Crypto' on May 11. Following its plunge to $75,000 on April 7, Bitcoin recovered strongly to trade 27% higher at around $95,000 by the end of the month. Meanwhile, indexes like the S&P 500 and Nasdaq declined in April. At the time, people wondered if Bitcoin's relative strength came from the narrative that countries were using Bitcoin to bypass tariffs. The analyst said the opposite should theoretically occur if the trade deal is confirmed. 'Theoretically speaking, if the trade uncertainty was what was making BTC outperform, it should stop outperforming after we hit the most important deal, which includes China.' On May 11, the White House announced that talks between the US and China regarding a trade deal have made 'substantial progress.' However, no official agreement had been announced. 'We will be giving details tomorrow, but I can tell you that the talks were productive,' said US Treasury Secretary Scott Bessent. However, if Bitcoin keeps doing its thing and outperforming, 'it's safe to assume that tariffs likely have little direct impact on how BTC is treated or used,' Daan concluded. Markets await trade deal announcement Some analysts, however, believe that Bitcoin will likely jump if a trade deal comes through, along with potential rate cuts. 'We believe that institutional investors are less apprehensive about investing in Bitcoin and crypto as US-China trade talks come to a conclusion and the likelihood of rate cuts increases,' Jeff Mei, chief operations officer at BTSE, told Cointelegraph. Meanwhile, Jupiter Zheng, researcher at HashKey Capital, said, 'A US-China trade deal could signal stability in global markets, potentially driving investors to seek growth opportunities and send capital into alternative assets.' 'Bitcoin could also see new highs as a result, particularly if the deal weakens the dollar or leads to renewed liquidity flows into emerging markets.' Analyst Will Clemente said on X that only a solid announcement of a trade deal is likely to keep momentum rolling. 'Feels like you're gonna need a real, tangible announcement on the China front to keep things moving here locally, momentum starting to stall out on BTC for the first time in a bit,' he said. Source:
