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Gold fell earlier on Thursday in Asia, losing a portion of its earlier gains amid escalating tensions between China and the United States.
Investors flocked to the yellow metal on Wednesday after the U.S. suspended flights by Chinese airlines into the country with effect from June 16. Washington’s decision came after China had barred American carriers from re-entering China.
Tensions simmered between the two countries after China approved national security laws to be implemented in Hong Kong and Macau at the end of May.
Gold futures lost 0.08% at $1,703.40 per ounce at 12:40 AM ET (5:40 AM GMT), after it had fallen by 2% in the previous session.
Stocks, which are often observed to move inversely to gold, were mixed on Thursday.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
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