US-China tensions and the Gold Summit are the focus of global markets today

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Direct – Ahmed Shawky: Tensions between the United States and China led the global markets at the end of trading on Friday, which pushed gold to achieve the highest settlement in its history.

Say The yellow metal rises up To the level of $ 1897 an ounce at the close of the session to record the highest settlement in its history with Weak US currency And tensions between the two largest economies in the world.

Diplomatic tensions escalated after China ordered the closure of the US consulate in Chengdu, against the backdrop of a similar decision by Washington on the Chinese consulate in “Houston”.

Stock losses

landed Wall Street Indexes At the end of trading, with the diplomatic escalation, it recorded its first weekly losses in a month.

Shares slipped “Tesla” by more than 6 percent In conclusion with strong losses in the technology sector.

Also fell European stock indices Led by the technology sector at the end of trading today to record weekly losses.

And with the clash between the two largest economies in the world, Chinese stocks fell In conclusion, about 4 percent to record weekly losses.

Economic numbers

In terms of economic data, it rose Economic activity in the United States During the current month, in the initial reading of the highest level in 6 months, with the industrial sector turning to growth.

Also rose American Home Sales El Jadida by about 14 percent during the past month.

The budget continued Balance sheet of the Federal Reserve The rise of the highest $ 7 trillion during the past week.

And in Europe, Economic activity expanded In the euro area to its highest level in 25 months in July, as activity rose Economic in Germany At the highest level in two years.

Activity has also expanded UK private sector For the highest level in 5 years, it also rose retail sales There are more than expectations.

With reduced The Central Bank of Russia The interest rate is at a record low of 4.25 percent.

And in a separate context، Oil prices rose upon settlement Today’s trading after a volatile session to record weekly gains.

Company data revealed “Baker Hughes “on the rise The number of oil drilling rigs in the United States for the first time in 4 months.







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