Summary:
Gold dipped from its high on Thursday but stayed firm as US stocks fell again after Trump ordered a probe, sparking new global trade war concerns.
Gold retreated from its fresh high on Thursday but remained on solid footing as US stocks slumped again after Trump ordered a probe that could open up a new front in the global trade war.
China is open to trade talks if the US names a point person to represent the country and shows respect by reining in disparaging remarks, according to a person familiar with the Chinese government's thinking.
China on Wednesday appointed Li Chenggang as vice minister of commerce and a top representative for international trade negotiation, according to an official statement, replacing Wang Shouwen.
In a BofA fund manager survey this week, 42% of respondents expected gold to be the best performing asset class in 2025. Goldman Sachs forecasts that prices will jump to $4,000 by mid-2026.
The WTO warned on Wednesday that the outlook for global trade has "deteriorated sharply". the volume of world merchandise trade is now expected to decline by 0.2% in 2025, before a recovery of 2.5% in 2026.
Investment flows into Chinese physically backed gold ETFs so far this month have exceeded those for the whole of the first quarter and overtaken inflows registered by US-listed funds, WGC data showed.
Bullion has entered overbought territory with potential support around $3,260, but the uptrend will likely remain intact until all the dust has settled on US tariffs.
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Thursday marked the week's final settlement before Easter, with light trading. Brent and WTI rose about 5%, their first weekly gain in 3 weeks.
2025-04-18
China's first-quarter GDP exceeded expectations, but US tariffs could pose a significant risk, and a reversal in exports is expected.
2025-04-16
European shares rose Wednesday as investors eyed US-EU trade talks; Trump said he's considering changes to the 25% car import tariffs.
2025-04-16
