Silver ends higher, scores 4% weekly gain
Silver futures rose on Friday, on safe haven demand amid fears over a renewed trade war between the US and China.
This came after the Trump administration accused China of mishandling the coronavirus outbreak and blaming it for the global pandemic and the death of hundreds of thousands of victims.
The White House Health Adviser Anthony Fauci stressed today on the importance of reopening the US economy, or the coronavirus impact will be more than expected on the long term.
The dollar index rose against a basket of currencies by 0.5% to 99.8 points as of 23:03 GMT, after it hit a high of 99.8 and a low of 99.3.
Silver July futures rose 1.9% or 32.9 to close at $17.693 an ounce, and gained 3.7% this week, with a day high of $17.77 and a low of $17.19.
US stocks close mostly higher, log weekly gains
Most US stock indices closed higher and posted weekly gains on Friday, despite pressure on the energy sector as oil prices fell, in addition to concerns over the Chinese economy and renewed tensions between the US and China.
China decided on Friday to not set a specific target for economic growth this year, which renewed concerns about the Covid-19 pandemic impact.
The US has accused China of mishandling the coronavirus outbreak and blaming it for the global pandemic and the death of hundreds of thousands of victims.
To the oil market, West Texas Intermediate crude fell 2% to close at $33.25 a barrel, but posted weekly gains of 13%, after it hit a day high of $34 and a low of $30.7.
Brent crude lost 2.6% to $35.13 a barrel, with a high of $36.2 and a low of $33.5.
As for stocks, Dow Jones slipped less than 0.1% or 9 points to close at 24,465, and posted a weekly gains of 3.3%, after it hit a day high 24,481 and a low 24,294.
Nasdaq rose 0.4% or 39 points to 9,324 points, and registered weekly gains of 3.4%, with a high of 9,328 and a low of 9,239.
S&P 500 rose 0.2% or 7 points to 2,955, and posted 3.2% gain this week, with a high of 2,956 and a low of 2,933.
Gold closes higher, but posts over 1% weekly loss
Gold prices rose on Friday, despit the US dollar rise against most currencies, on safe haven demand amid fears over a renewed tensions between the US and China.
The White House Health Adviser Anthony Fauci stressed today on the importance of reopening the US economy, or the coronavirus impact will be more than expected on the long term.
The US has officially accused China of mishandling the coronavirus outbreak and blaming it for the global pandemic and the death of hundreds of thousands of victims.
The dollar index rose against a basket of currencies by 0.5% to 99.8 points as of 21:04 GMT, after it hit a high of 99.8 and a low of 99.3.
Gold June futures rose 0.8% to close at $1,735.5 an ounce, but lost 1.2% this week, with a day high of $1,742 and a low of $1,722.5.
Oil continues to drop ahead US drilling rigs count
Oil prices fell on Friday, amid concerns over the Chinese economy and renewed tensions between the US and China.
Baker Hughes will reveal later today its count for the US rigs working in shale oilfields for this week.
China decided on Friday to not set a specific target for economic growth this year, which renewed concerns about the Covid-19 pandemic impact and a drop in demand.
The dollar index rose against a basket of currencies by 0.5% to 99.8 points as of 16:45 GMT, after it hit a high of 99.8 and a low of 99.3.
West Texas Intermediate crude fell 3.1% to $32.8 a barrel as of 16:42 GMT, after it hit a day high of $34 and a low of $30.7.
Brent crude lost 3.2% to $34.9 a barrel, with a high of $36.2 and a low of $33.5.