Gold slips on Trump’s Fed backflip, trade hopes

Oil prices soared more than 1% on Wednesday, extending the prior day`s gains, as investors weighed a fresh round of U.S. sanctions on Iran, a drop in U.S. crude stocks and a softer tone from US President Donald Trump towards the Federal Reserve.

Wall Street stocks soared Tuesday, rebounding from the prior day`s rout, after upbeat comments from Trump administration officials about US-China trade talks.

The International Monetary Fund (IMF) has slashed the growth forecast for most of the advanced economies of the world due to uncertainty caused by the US trade tariffs.

Gold hit another record Tuesday while the US dollar steadied, and equities mostly fell as US President Donald Trump`s latest salvo against Federal Reserve boss Jerome Powell added fuel to fears about the central bank`s independence.

Global markets have been shaken to their core by President Donald Trump’s aggressive trade agenda — and despite his promise of a “new golden age of America,” the long-held appeal of US investment is starting to lose its luster.

Gold prices hit a fresh record Monday while the dollar weakened further and share markets were mixed amid worries about US President Donald Trump`s tariff blitz and bubbling row with the Federal Reserve.

DHL Express, a division of Germany`s Deutsche Post said it would suspend global business-to-consumer shipments worth over $800 to individuals in the United States from April 21, as U.S. customs regulatory changes have lengthened clearance.

The International Monetary Fund (IMF) may revise downward the forecast of global economic growth due to trade tariffs introduced by the Trump administration, Bloomberg news agency said.

Russia remains one of the key actors when it comes to guaranteeing global food security, the country`s Foreign Minister Sergey Lavrov said on Wednesday.

Wall Street traders were back in sell-off mode Wednesday while the dollar fell further as downcast comments from the Federal Reserve Boss Jerome Powell added to weakness in semiconductor giant Nvidia.

Oil prices fell on Wednesday as shifting U.S. tariff policies and the U.S.-China trade war prompt traders to consider the potential impact on economic growth and energy demand.

Crude oil prices stabilized Tuesday, even regaining some lost ground earlier in the day as US President Donald Trump indicated he was open to more tariff exemptions and as China’s imports of crude hit the highest in 20 months in March.

The Trump administration has said it is freezing more than $2 billion in federal funds for Harvard University, hours after the elite college rejected a list of demands from the White House.

British multinational oil and gas company BP, which recently shelved carbon-reduction targets to focus on more profitable fossil fuel output, said Monday it had made a new oil discovery off the US Gulf coast.

The euro has emerged as a surprise winner of the recent tariff-induced market turmoil, confounding the earlier consensus by surging to a three-year high against the US dollar as Europe proves a relatively safe bet amid the global chaos.

Argentina sealed a $20 billion, 48-month Extended Fund Facility deal with the International Monetary Fund on Friday and, in a major policy move ahead of the deal, dismantled key parts of its years-long currency controls and loosened its grip on the peso.