Market Update

Gold prices fell as the appetite for risk improved after the US Drug Administration approved the use of blood plasma for people recovering from Covid-19 disease as a treatment option, while the dollar rose. With the closure of the Tokyo Stock Exchange, the spot price of gold was down 0.4% …

Japanese stocks closed higher, deriving direction from the gains of their Asian counterparts, but growing speculation over Prime Minister Shinzo Abe’s health dented the mood. The benchmark Nikkei index rose 0.28 percent to close at 22,985.51 points, while the broader Topix index rose 0.19 percent to 1,607.13 points. Trading volumes …

Crude oil prices rose on Monday as two storms approached the Gulf of Mexico, cutting more than half of oil production there, and amid optimism about the Coronavirus, after the US Food and Drug Administration allowed the use of blood plasma from recovered patients as a treatment option. Brent futures …

Kellyanne Conway, a senior adviser to President Trump, will leave the White house at the end of the month.  Conway, whose title is counselor to the president, has resigned citing the need to focus on her family, according to The Washinton Post.

The latest coronavirus (COVID-19) updates from China have been upbeat as all 16 cases on August 23 reported as imported infections. “This compared with 12 new COVID-19 cases reported a day earlier, all imported too and marked the eighth consecutive day of no locally transmitted cases. The total number of …

The People’s Bank of China (PBOC) has set the yuan reference rate at 6.9194 versus Friday’s fix at 6.9107.

New Zealand’s Prime Minister Jacinda Ardern has extended the coronavirus lockdown till Aug. 30.  While the city of Auckland is under alert level 3 restrictions, the rest of New Zealand remains at level 2, Ardern said, while adding that Auckland will move to level 2 after Aug. 30. New Zealand …

The New York Stock Exchange (NYSE) closed higher on Friday, logging weekly gains, with The Dow Jones Industrial Average surged by 0.69% to close at 27,930.33, nearly unchanged compared with its level by the end of last week. The S&P 500 index increased by 0.34% and closed at a new …

Oil prices closed Friday lower, despite a decrease in the United States active oil rig count to a record low, amid renewed concerns regarding demand outlook. This comes after PMI data showed that the global economic recovery is not accelerating. Brent crude futures for October delivery lost 55 cents, or …

Gold prices rose on Friday, narrowing its weekly losses for the second week in a row. This comes amid the US Dollar recovering some of its recent losses after falling to its lowest level in two years. Gold futures marginally rose by 50 cents, or about 0.1%, and finished at …