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Investors dumped chipmakers over concerns about Chinese competition, and the funding of the AI boom. Meanwhile, rising odds?of an interest rate increase in the U.S. as soon as this week further dampened mood. Asian chipmakers were 'at the 'heart' of Tuesday's sale. South Korea's KOSPI plunged more than 10%, hitting a three-month high. This triggered a circuit breaker on its way down, as it headed for its biggest monthly drop on record, surpassing the declines experienced during the Asian Financial Crisis in 1997. The index's value had tripled over the past 12 months, but has lost more than a quarter...

Tom Westbrook gives us a look at what the future holds for European and global markets. Chip stocks in Asia fell on Tuesday due to the twin threats of Chinese competition rising and questions over funding and sustainability of AI infrastructure boom. South Korea's KOSPI fell nearly 10%, tripping a circuit breaker. Japan's Nikkei dropped 4.4%. The rally has been so strong that both markets are still the leaders for the year, even though they have now reached multi-month lows. Nvidia fell 5% Monday after a Wall Street Journal article reported that the chipmaker had been in discussions to provide...

The stock and bond markets around the world staged a relief rally Monday, as easing Middle East conflict sent oil prices down and eased inflation concerns ahead of an upcoming week packed with central bank meetings and earnings announcements. U.S. president?Donald?Trump has halted the two-week long bombing campaign that was launched against Iran. According to reports, U.S. officials were concerned about the depletion in air defence weapons. Iran has said that it will halt its attacks as long as U.S. officials continue to fire. Brent crude fell 7.8% to $89.41 per barrel during the lull of fighting in the Strait...

As a result of the pause in fighting that occurred in the Gulf, oil prices fell. This lowered inflation risks as well as helped boost bonds before a week packed with central bank meetings and reports on earnings. Iran announced on Sunday that it would cease its attacks as long as the United States followed suit. The U.S. Military was reportedly worried about the dwindling supply of ammunition. Yemen's Houthis, who are aligned with Iran, have still continued to attack Saudi oil installations on the Red Sea Coast, a threat to another vital waterway for the global oil trade. Sally...

The Australian and New Zealand dollar strengthened on Monday, as hopes for a diplomatic resolution to the Middle East conflict sent oil price?lower. This eased inflation concerns and helped boost global bond markets. The Aussie gained 0.2%, to $0.7001, following a 0.3% gain on Friday. It is little changed from last week. The Aussie has moved away from its three-month-low of $0.6867. Resistance is seen at the one month peak of $0.7026. New Zealand's dollar rose 0.2%, to $0.5798, after finishing last week down by 1%. This was primarily due to losses against the Australian dollar. The 200-day moving median...

Can India do the same for Asia's refined fuels market as China did with crude oil? China drastically cut its crude oil imports in June to a 10-year-low in response to the U.S. and Israeli war against Iran. This freed up oil for buyers who were struggling to source cargoes due the the effective closing of the 'Strait of Hormuz. India is taking a different approach, purchasing 'Russian crude' and increasing exports of refined goods to offset the lower shipments coming from Middle East refineries and Russia. According to commodity analysts Kpler, India's light and middle distillates exports are expected...

Mike Dolan, Editor at Large, Finance and Markets, explains what matters today in U.S. markets. Alphabet's capital expenditure increase and earnings beat triggered a familiar response - the stock of Alphabet fell, while chip stocks rose. The hyperscaler beat the Street by posting more than 80% in its cloud business. However, it raised its capex expectations yet again, with AI-related investments now expected to exceed $200 billion this year. Below, I'll delve deeper into that and much more. Check out my most recent column about how the U.S. economy's K-shaped scale explains its resilience. Listen to the Morning Bid podcast...

Oil prices in Asian trade rose by?more? than 1.5% on Thursday, reaching their highest level?in? more than six weeks. Yemen's Houthis attacked oil tankers in Red Sea while the United States launched another round of airstrikes against Iran. Brent crude futures rose by $2.2 or 2.3% to $96.27 at 0327 GMT. This is the highest level since June 8. The previous session saw Brent crude futures rise more than $3, to $94.07, which was just short of the six-week peak. After Wednesday's rise of 3%, U.S. West Texas Intermediate crude rose $1.65 or 1.9% to $88.48. The Iranian Revolutionary Guards...

The oil price rose to its highest level in six weeks?on Wednesday, as U.S. and Iran exchanged strikes, further endangering energy shipping across the Middle East. Meanwhile, U.S. stocks were flat before?important Big Tech earnings. Brent crude prices last rose around 3.5%, to $94 a barrel. This was the highest since early June. A brief detente that existed between the U.S., Iran and other countries ended in early this month. This has once again restricted tanker movements through the Strait of Hormuz. Donald Trump, the U.S. president, threatened to attack Iran's infrastructure again on Wednesday. The war, which has lasted...

The price of oil?soared to a six week high on Wednesday, as the U.S. traded with Iran, threatening the Middle East's energy shipping. Equities were flat before the release of important Big Tech earnings. Brent crude prices rose last around 2.7% to $93.40 per barrel, reaching levels that have not been seen since early June. The U.S.-Iran detente ended in early this month and tanker traffic was once again restricted through the Strait of Hormuz. Donald Trump, the U.S. president, threatened to launch more attacks against Iran's infrastructure on Wednesday. The war, which has lasted for nearly five months, has...

As the Iran conflict intensified, German borrowing costs rose to a new two-year peak and French longer-dated rates rose above 4% for a first time since June 2009. This boosted expectations of higher inflation and policy rate. Brent crude oil prices surpassed $95 per barrel on Wednesday. U.S. president Donald Trump also said that the U.S. will "bomb and demolish one bridge or power station" if Iran attacks a ship near the Strait of Hormuz. German yields on two-year bonds, which are sensitive to expectations of policy rates, increased 4.5 basis points to 2.8425%. This is their highest level since...

Oil prices dipped on Tuesday as markets weighed reports of mediation attempts?between Iran and the U.S. versus an exchange of new?attacks?between both and threats of a Saudi Arabian naval blockade by Yemen's Houthis. Brent crude futures fell 35 cents or 0.4% to $88.87 a barrel at 0052 GMT. U.S. West Texas intermediate crude for September was unchanged at $82.47 a barrel. Both contracts were trading at levels below their highest in over a month, which they reached in the previous session. Houthis, who are allied with Iran in Yemen, announced?on Sunday that they would impose an naval blockade against Saudi...

Investors waited for the Federal Reserve to announce its policy decision at the end their two-day meeting in this week. They wanted insight into the direction U.S. rates will take. Spot gold dropped 0.8% at $4,042.29 an ounce as of 0843 GMT. U.S. gold contracts for August delivery fell 0.8%, to $4.042.80. "Gold has held to a very tight range since late June based on the support in $4,000 region, which suggests at some stage there will be a breakout," said Rhona Connell, StoneX's head of market research. Connell said: "Fundamentally the physical markets are still very quiet, while professionals...

The dollar strengthened on Tuesday and gold prices fell. Markets were looking for clues about the future of interest rates in the Federal Reserve's policy announcement. Gold spot fell by 0.7% at $4,044.81 an ounce as of 0250 GMT. It had risen as high as 1% Monday. U.S. Gold Futures for August Delivery fell 0.8% to $4.045.40. Dollars are nearing a month-high, which makes greenback bullion prices more expensive for those who hold other currencies. Ilya Spivak is the head of global macro for finance content network Tastylive. The U.S. Federal Reserve is expected to conclude its two-day policy meeting...

Gold prices rose on Monday as the United States and Iran agreed to cease hostilities, sending crude oil prices down to their lowest level in a week, which eased inflation fears ahead of this week's U.S. rate decision. Spot gold rose by 0.9%, to $4.087.59 an ounce, at 09:43 am EDT (1343 GMT), whereas U.S. Gold Futures for August Delivery rose by 0.5%, to $4.090. The dollar index weakened by 0.1%, making greenback-priced bullion more affordable for buyers overseas. The dollar index weakened by 0.1%, making greenback priced bullion more accessible to buyers abroad. Bart Melek is global head of...

Gold prices rose on Monday, as a pause between?strikes by U.S. forces and?Iranian forces brought crude oil prices down. This helped ease inflation fears and concerns about higher interest rates a week before Fed policymakers meet. Spot gold rose 1% by 1030 GMT to $4.093.34 an ounce, while U.S. Gold Futures for August Delivery climbed 0.6% to $4.095.60. "Precious Metals have begun the week in a positive way, thanks to a pause on Middle East hostilities. The dollar has also weakened, and the yields on U.S. Treasury bonds and oil have both slid," said Ross Norman, an independent analyst. The...

Gold prices rose on Monday as a pause between strikes?between U.S. forces and Iranian forces?helped?crude oil?price?fall. This helped ease inflation fears and concerns about the possibility of higher interest rates during a week when policymakers from the Fed will be meeting. Spot gold rose by 0.9% to $4.089.03 an ounce at 0805 GMT. U.S. gold futures for delivery in August also increased by 0.5%, to $4.090.80. "Precious Metals started the week in a positive way, thanks to a pause of hostilities in the Middle East. "Oil has fallen and both the dollar yields and U.S. Treasury yields are down," said...

Gold prices increased?more? than 1%?on?Monday, as a pause in Middle East hostilities?pushed oil?prices lower?and eased inflation concerns?before a Federal Reserve Meeting this week? By 0723 GMT, spot gold had risen 1.3% to $4103.59 an ounce. U.S. Gold Futures rose 0.9% to $4106.00. Tim Waterer is the chief analyst at KCM Trade. He said, "Gold has benefited from the double price action in oil and U.S. dollars." The U.S. Dollar?index fell by 0.3%, making metals priced in greenbacks more affordable to other currency holders. A senior Iranian official said on Sunday that Iran would cease its attacks if the United States...

Gold prices rose on Monday, as investors waited to see what the U.S. Federal Reserve will do about its policy later this week. By 0421 GMT, spot gold had risen 0.9% to $4.087.79 an ounce. U.S. Gold Futures rose 0.5% to $4089.90. Tim Waterer is the chief market analyst of?KCM Trade. The U.S. Dollar Index fell by 0.3%, making metals priced in greenbacks more affordable to other currency holders. Iran will halt its attacks if the United States also does so, a senior Iranian government official said on Sunday. After President Donald Trump's advisors informed him that they were running...

Gold prices rose by a little more than 1%?Monday, as oil prices fell due to a pause of Middle?East hostilities, easing inflation fears. Investors awaited U.S. Federal Reserve policy announcement. By 0200 GMT, spot gold had risen 1.4% to $4110.56 an ounce. U.S. Gold Futures rose 1% to $41,112.10. Gold is clearly a beneficiary of today's dual price action of oil and the U.S. Dollar, which both dropped due to de-escalation expectations between the U.S. Tim Waterer said that lower oil prices are easing inflation concerns. The U.S. Dollar Index was down by 0.3%. This made greenback-priced gold more affordable...

Gold prices climbed on Friday as oil prices fell, and investors watched developments in the Middle East to get a better idea of inflationary risks fueled by energy, as well the outlook for U.S. rates. Spot gold increased 0.4%, to $4.061.36 an ounce, by 1115 GMT after falling 0.6% earlier. U.S. gold futures for delivery in August gained 0.3%, to $4.063.60. The gold price has moved from a negative to a slightly positive territory, driven by the lower oil prices. This reduces pressure on Fed to adjust rates, said UBS analyst Giovanni Staunovo. He added, "Our view is that the...

You wouldn't guess it by the price of aluminium. Two damaged Gulf smelters, and the resulting?logistical constraints at other smelters have already created a 2 million metric ton gap in the global supply chains. After surging to a 4-year high of $3,787.50 per tonne in early June, London Metal Exchange's (LME) 3-month aluminium now trades around $3,170 a tonne, exactly where it traded before the United States launched its "Operation?Fury", a joint strike with Israel against Iran, on February 28. Where did the war premium end up? Is the market right in being so'relaxed' about?the unprecedented shortage of a metal...

Gold ticked up a bit?on friday, reversing previous losses, as oil fell below $100?per barrel mark. Investors are watching developments in the Middle East to get a fresh perspective on inflationary risks driven by energy and the outlook for U.S. rates. Spot gold was up 0.2% at $4,055.38 an ounce as of 0925 GMT after falling 2% Thursday to $4.047.26. U.S. gold futures August delivery rose 0.2%, to $4.058.10. "Gold is now slightly positive after moving from a negative position earlier, driven by lower oil prices. This has reduced pressure on the Fed's rate-setting," said UBS analyst Giovanni Staunovo. He...

Gold fell?lower? on Friday, after dropping 2% in the previous session. The move of Brent crude back above $100 per barrel has stoked inflation fears and reinforced the case for higher rates before the Federal Reserve's policy meeting next Monday. Spot gold prices fell more than $130 since Wednesday's two-week high, falling to $4,037.29 an ounce at 0702 GMT. U.S. gold futures for delivery in August were down 0.3% at $4,039.80. Bullion is still on course for a 0.5% weekly gain. "In the near term, we anticipate more volatility... Gold has been stuck between $3,980 and $4,170 for weeks. We...