Latest News
-
US lawmakers arrive at Copenhagen to counter Trump’s Greenland threat
Bipartisan U.S. legislators will meet the leaders of Denmark and Greenland this Friday to assure them of the support of Congress despite the threats of?President Donald Trump to seize the Arctic Island. Trump has stated that Greenland's strategic location and its large mineral supply are vital to U.S. national security. He has also not ruled out using force to seize the island. The European nations sent a small number of military personnel this week to the island on Denmark's request. According to the office of?Frederiksen, an 11-member U.S. delegaion led by Democratic Senator Chris Coons is set to meet with Danish Premier Mette Frederiksen, and her Greenlandic equivalent Jens-Frederik Nielsen. Coons said in a recent press release that "at a time when international instability is increasing, we must draw closer to our friends, not drive them from us." He added that the delegation will send a "clear message" about Congress' commitment to NATO. The delegation is made up primarily of Democratic legislators, but includes Republican Senators Lisa Murkowski and?Thom Tillis. COPENHAGEN'S VISIT FOLLOWS A WHITE HOUS?E?MEETING On Wednesday, the congressional visit followed a high-stakes?meeting in which Danish Foreign Minister Lars Lokke Rasmussen met with Greenlandic Foreign minister Vivian Motzfeldt and Secretary of State Marco Rubio. After the meeting, Danish officials stated that they had not been able to influence the U.S. government's position regarding Greenland. Rasmussen, Motzfeldt and other Danish officials met with U.S. legislators in Washington to garner congressional support as Denmark?and Greenland sought to resolve an unprecedented diplomatic crisis. Rasmussen posted on Instagram on Thursday night that "(we are) prepared for cooperation in security in the Arctic, but it must happen with respect?for our territorial integrity, international law and UN Charter." Trump floated the idea to acquire Greenland during his first term in 2019, but he faces opposition at Washington, even from his own party. BIPARTISAN OPPOSITION - TO GREENLAND SECURITY Lawmakers from Trump's Republican Party and opposition Democrats said they would support legislation to rein Trump's power to seize Greenland amid a continuing fight over war rights, which Congress grants. A bill to annex Greenland was also introduced in the House. A /Ipsos survey found that only 17% of Americans support President Donald Trump in his efforts to acquire Greenland. Majorities of Democrats, Republicans, and Independents oppose the use of military force to annex Greenland. Trump has called this poll "fake."
-
Copper falls to a one-week low due to concerns about China's demand and a stronger dollar
Copper prices dropped?on Friday, hitting their lowest level in a week. They were weighed down by rising concerns about demand in China's top consumer following?downbeat statistics and the absence rate cuts. The Shanghai Futures Exchange's most traded copper contract closed the daytime trading session 2.26% lower, at 100,770 Yuan ($14.461.20) per ton. This is its lowest level since January 9. Benchmark three-month Copper on the London Metal Exchange fell 1.68% by 0723 GMT to $12,885.50 per ton, its lowest level since January 9. The dollar's strength contributed to a 0.6% decline in both benchmarks, which had gained ground earlier in the week. The rally in copper prices last year continued into the first week of the 2026. This was fueled by mine disruptions and concerns about supply shortages. China's weaker data on loan? and its plans to reduce sector-specific rates of interest, rather than the benchmark policy rate, have weighed down sentiment and pushed prices lower. China's new bank loans for 2025 have fallen to their lowest level in seven years, reflecting the weak borrowing requirements amid a prolonged real estate downturn. The central bank of China announced on Thursday that it would be reducing sector-specific interest rate to "provide an early boost" to the economy. However, such a move has a limited effect on growth. A poll revealed that China's economy is likely to slow down to 4.5% by 2026, and then maintain its pace through 2027. Other SHFE metals include aluminium, which fell by 2.21%; nickel, which dropped by 3.99%; lead, which fell 0.46%; and zinc, down 1.2%. Shanghai tin fell by over 6% after the Shanghai Stock Exchange took steps to curb a price surge by increasing trading prices and margins and by limiting the number of open positions within a day. Aluminium, nickel, lead, and zinc all fell in price. Tin also dropped by 2.03%.
-
As the market assesses supply risks, oil prices are rising.
The oil prices increased slightly on Friday, as participants in the market weighed supply risks. However, the likelihood of an?U.S. The likelihood of a U.S. strike against Iran has decreased. Brent rose 5 cents or 0.1% to $63.81 per barrel, while U.S. West Texas Intermediate climbed 8 cents or?0.1% to $59.27 per barrel at 0749 GMT. Brent and WTI both reached multi-month highs in this week, after protests erupted in Iran and U.S. president Donald Trump hinted at the possibility of strikes against the country. Brent prices are still on track for a fourth consecutive week of gains. BMI analysts wrote in a client note that "given the potential political turmoil?in Iran", oil prices will likely experience greater volatility, as markets digest potential supply disruptions. Trump stated late on Thursday that the crackdown by Iran on protesters is easing, reducing fears of military action which could disrupt oil supply. In a note to clients, IG analysts stated that while (Iranian Supply) Risks have eased a bit, they are still significant and keep the?market anxious in the short-term. They added that "any escalation with Iran would also raise concerns about a potential disruption of oil flows through Strait of Hormuz - a chokepoint at which around 20m barrels per day pass." Analysts remain pessimistic about the prospect of a longer supply in this year, despite expectations from OPEC for a more balanced market. "Sentiment drives markets, but headlines are always short-lived. Especially when fundamentals appear to be comfortable at the back of the line," Priyanka sahdeva, senior market analyst for Phillip Nova. Oil looks range-bound with Brent hovering around $57 to $67. OPEC announced on Wednesday that oil supply and demand will remain in balance in 2026. In 2027,?demand? will rise at a pace similar to the growth rate for?this?year. Market participants expect near-term price changes to be influenced by geopolitical factors and macroeconomics. The situation in Iran, and China's data dump, will likely drive the oil market in the short term, according to OANDA Senior Market Analyst Kelvin Wong. He added that WTI crude prices are expected to remain in a range of $55,75-$63.00 per barrel. Helen Clark, Trixie Yap and Tom Hogue edited this article.
-
Gold falls as dollar rises on the back of positive US data, reducing rate-cut betting
Gold extended its losses ?on Friday after stronger-than-expected U.S. economic data reduced expectations of near-term Federal Reserve ?rate ?cuts, while easing geopolitical tensions shrunk demand for safe-haven bullion. By 0733 GMT, spot gold was down 0.2% at $4,604,29 per ounce. The metal is expected to gain 2% in a week after reaching a record high of $4,642.72 last Wednesday. U.S. Gold Futures for February Delivery edged down 0.3% to $4,608.90. Kyle Rodda is an analyst with Capital.com. He said that the downward movement in gold began when the United States lowered the likelihood of any intervention to quell the unrest?in Iran. The dollar is poised to gain a third week after the U.S. Labor Department reported that weekly initial claims for unemployment fell 9,000, to 198,000 seasonally adjusted claims. This was below the 215,000 expectations?by an economist poll. The greenback price of metals is more expensive to overseas buyers. Low rates also benefit gold, which is a non-yielding investment, because they lower the opportunity costs of holding it. On Wednesday and Thursday people inside Iran said that protests had abated since Monday, while U.S. president Donald Trump has also taken a softer stance regarding military intervention. SPDR Gold Trust is the largest gold-backed ETF in the world. Its holdings rose 0.05% to 1,074,80 tons, their highest level in more than 3-1/2 years. Gold?demand in India was muted as prices reached record highs, reducing the appeal of?retail purchases. In China, bullion trades at a premium as demand remains steady before the Lunar New Year. According to a report released by?Vanda Research, on Thursday, silver has become 'the most crowded commodities trade in the market. Individual investors are buying up silver at a record pace. Spot silver fell 1.8%, to $90.66 an ounce. It was still on track for a weekly increase of more than 13%. After hitting a record low of more than a week earlier, spot platinum fell 2.1% to $2 358.95 an ounce. Palladium dropped 2.9% to $1 748.50 per ounce.
-
ASIA GOLD - Record rally stops retail purchases in India, China demand stable
The gold demand in India was muted as prices hit record highs, reducing the appeal of retail purchases. In China, bullion trades at a premium as demand remains steady before the Lunar New Year. Indian dealers offer a discount This week, official domestic prices will be up to $12 an ounce, including 6% import and 3% sales taxes, compared to the previous week's up to $6. On Friday, domestic gold prices were trading at around 142.800 rupees per 10 grams, which is not far off the record high reached earlier this week of 143.590 rupees. Chirag Thakkar is the CEO of Amrapali Group Gujarat, a bullion importer. "Most people are buying gold exchange-traded funds, with only a small amount of interest in bars and coins. "Jewellery demand is dead," said a Mumbai bullion dealer from a private bank. Bullion prices in China's top consumer range from discounts as high as $12 per ounce up to premiums of over $3 an ounce compared to the global benchmark. This week. Last week, premiums were as high as $11. "China is heading into the Chinese New Year and despite record prices, the gold price remains modest (which is surprising)," said independent analyst Ross Norman. In Singapore Gold was sold for prices that ranged from a discount of $0.20 to a premium up to $2 per ounce. In Hong Kong, gold In Japan, gold bullion is traded at a premium of $4 per ounce, while it is sold at par. The same as last time, the product was sold with a discount of $6 or a premium of $1. The benchmark gold price for international trade was headed to a weekly increase after reaching a record-high of $4,642.72/ounce last Wednesday. Norman stated that the market is still hot, from both a retail and physical perspective. This applies to China, Europe, or even Australasia. ($1 = 90.6610 Indian rupees) (Reporting by Ishaan Arora in Bengaluru and Rajendra Jadhav in Mumbai; Editing by Subhranshu Sahu)
-
Gold falls as dollar rises on the back of positive US data, reducing rate-cut betting
?Gold extended its losses on Friday after stronger-than-expected U.S. economic ?data ?dampened expectations of the U.S. Federal Reserve cutting interest rates sooner and softening geopolitical frictions shrunk safe-haven demand for the metal. By 0619 GMT, spot gold was down 0.2% at $4,604.39 per ounce. The metal is expected to gain 2% in a week after reaching a record high of $4,642.72 last Wednesday. U.S. Gold Futures for February Delivery edged down 0.3% to $4,608.50. Kyle Rodda is an analyst with Capital.com. He said that the downward movement in gold began when the United States lowered the likelihood of any kind of intervention in the social unrest in Iran. The dollar is poised to gain a third week after data from the U.S. Labor Department revealed that weekly initial claims for unemployment fell 9,000, to a seasonally-adjusted 198,000. This was below the 215,000 economists expected. Metals priced in greenbacks are more expensive to other currency holders. Bullion is generally more attractive in low-interest rate environments. On Wednesday and Thursday people inside Iran said that protests seemed to have diminished since Monday, while U.S. president Donald Trump also struck down a more dovish tone in regards to military intervention against Iran. The SPDR Gold Trust, the largest gold-backed ETF in the world, reported that its holdings increased by 0.05% to 1,074,80 tons on Thursday, their highest level in more than 3-1/2 years. According to a Vanda Research report published on Thursday, silver has become the most popular commodity in the market. Individual investors have been buying up silver at a rapid pace. Spot silver fell 1.9% to $90.61 an ounce. However, it was on track for a weekly gain of more than 13%. After hitting a low of $1,754.26 an ounce earlier, spot platinum fell 3.5%, to $2,326.36. Palladium also dropped 2.6%, to $1,326.36. (Reporting and editing by Sherry Phillips and Janane Vekatraman in Bengaluru, and Ishaan Verma from Bengaluru)
-
How much longer before we intervene?
Rae Wee gives us a look at what the European and global markets will be like tomorrow. The markets were expected to close the week with a bang on Friday, as the artificial intelligence market regained its momentum. But for investors, the focus will be on the yen, and whether Tokyo can soon intervene to support?its currency. Satsuki Katayama, the Japanese Finance Minister, said that Tokyo would not "rule out any options" in order to combat the weakening yen. This could include a coordinated intervention with Washington. Her comments are the latest in a series of sarcastic remarks from the authorities in Tokyo in an attempt to stop the decline in the currency, which is down by about 1% this year. The yen gained on Friday. Its gains were further boosted by a report that Bank of Japan policymakers believe they can raise interest rates earlier than the markets expect. It is still on the verge of the 160-to-dollar mark, despite its recent fall to a 18-month low. Investors expect that Prime Minister Sanae Takayichi will be given a more powerful mandate for stimulating the economy in Japan's upcoming snap election. It remains to be determined how much weakness in the yen authorities will tolerate given its impact on fuel imports, food, and other materials, which could increase prices for broader consumer goods. Other than that, oil prices continued their steep declines since?the previous day and safe-havens like gold and silver stopped their dazzling rally after U.S. president Donald Trump took a wait and see attitude towards the unrests in Iran. He had earlier threatened to intervene. Trump claimed that he was told by Iranian officials that the crackdown against protests is easing. He also said that he did not believe there were any plans for large-scale executions. Investors have reduced their bets on Federal Reserve rate reductions this year after a series of positive economic data released on Thursday. According to CME FedWatch, the markets now price in a 67% probability that the Federal Reserve won't change rates in April. This is up from 37% one month ago. The odds of a stable outcome in June are also higher at 37.5% compared to last month's 17%. The following are key developments that may influence the markets on Friday. Fed's Collins Bowman and Jefferson speak - U.S. industrial production (December) Housing market index of the U.S. National Association of Home Builders (NAHB), January
-
Gold falls as dollar rises on the back of positive US data, reducing rate-cut betting
Gold ?extended its losses on Friday after stronger-than-expected U.S. economic data ?dampened expectations ?of the U.S. Federal Reserve cutting interest rates sooner and softening geopolitical frictions shrunk safe-haven demand for the metal. By 0426 GMT, spot gold was down 0.4% at $4,598.52 an ounce. The metal is expected to gain 2% in a week after reaching a record high of $4,642.72 last Wednesday. U.S. gold futures for delivery in February fell by 0.5% to $4.601,80. Kyle Rodda is an analyst with Capital.com. He said that the downward movement in gold began when the United States lowered the likelihood of any intervention in the social unrest in Iran. The dollar is poised to gain a third weekly after the U.S. Labor Department reported that weekly initial claims for unemployment fell 9,000, seasonally adjusted, to 198,000. This was below the 215,000 economists expected. Metals priced in greenbacks are more expensive to other currency holders. Bullion is generally more attractive in low-interest rate environments. On Wednesday and Thursday people inside Iran said that protests had abated since Monday, while U.S. president Donald Trump has also taken a softer stance regarding military intervention. The SPDR Gold Trust, the largest gold-backed ETF in the world, reported that its holdings increased by 0.05% to 1,074.80 tonnes on Thursday, their highest level in more than 3-1/2 years. According to a Vanda Research report published on Thursday, silver has become the most popular commodity in the market. Individual investors have been buying up silver at a rapid pace. Spot silver fell 1.8% to $90.70 an ounce. However, it was on track for a weekly gain of more than 13%. After hitting a low of $1,759.07 an ounce earlier, spot platinum fell 2.8% to $2342.14 and palladium dropped 2.3% to the same price. (Reporting and editing by Sherry Phillips and Janane Vekatraman in Bengaluru, and Ishaan Verma from Bengaluru)
San Diego pays $30 million to the family of a teenager killed by police
According to U.S. news reports, the city of San Diego agreed to pay $30m to the family a 16 year old boy who was shot dead by a police officer while he was fleeing from another teenager who opened fire on him.
San Diego Union-Tribune, New York Times and other media outlets reported that the settlement reached by the Californian city is one of the biggest in a civil case for wrongful death arising from an act of US law enforcement.
The amount received by the family for Konoa, who was killed in the early hours of the morning of 28th January, is more than the $27 million paid out in 2021 to the family for George Floyd, whose death in the hands of Minneapolis policemen in the summer of 2020 sparked nationwide protests in support of racial equality.
The Floyd settlement at that time was thought to be one of the largest in its type.
According to the Union-Tribune, Nicholas Rowley is an attorney representing Wilson's family. "It is really noble. ... There was an officer trying to keep the public safe. It was an error."
Rowley and the San Diego City Attorney's Office did not respond to requests for comment.
According to reports, the payment will be made by the city as well as Officer Daniel Gold II who shot Wilson.
The city stated that the settlement was not an admission of responsibility by anyone and was only a business decision. The Union-Tribune reported that Gold, who was on the force for only two years when the shooting occurred, has continued to work in the department as an administrator.
According to The Times, Rowley warned in his legal brief that he would seek $100 million damages if this case went to court.
As seen on video, the incident in January began when a teenager pulled out a gun to fire at Wilson as he ran from a train platform.
The body camera worn by Gold as he ran toward the gunshots captured the moment he met Wilson, the fleeing teen, when he emerged from the corridor.
Wilson is seen screaming in pain as he runs past the officer. Gold then shoots him without warning, from behind. After the shooting, officers tending to Wilson are seen discovering a concealed handgun in his clothing. A short time later, the youth passed away at a local hospital.
The Times and Union-Tribune reported that the City Council, who tentatively approved this settlement in September was expected to vote Tuesday to authorize the payment. Reporting by Steve Gorman, Los Angeles; Editing and proofreading by William Mallard
(source: Reuters)