Chinese shares lift Asia, gold heads for eighth straight weekly gain

Quick Summary:

The precious metal was helped by safe-haven flows due to concerns over Donald Trump's tariff threats and amid contentious talks as the U.S.president pushes for a quick deal to end the Russia-Ukraine war.

The dollar was headed for a third straight weekly loss, as bulls who had built up big long positions in anticipation of a trade war have backed off while Trump equivocates about tariffs.

"The data supports the growing market conviction of a BOJ rate hike by July, and a possible third hike by year-end," said Alvin Tan, head of Asia FX strategy at RBC Capital Markets.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChinaGermanyHong KongJapanSingaporeUkraine

Topics: Gold MSCI Markets Asia /Business/Business News Hang Seng

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-21 @ 14:59:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 816 words

Reading Time: 5 minutes read

Sentences: 27 lines

Sentence Length: 31 words per sentence (average)

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Copyright Owner: © The Star

News ID: 26313570

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