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Gold prices surged over 1% on Friday, buoyed by a weaker dollar and market anticipation surrounding U.S.-China trade talks. Spot gold reached $3,340.29 an ounce, marking a 3.1% weekly gain and a 27% rise year-to-date. Trump's tariff comments and geopolitical tensions between India and Pakistan further fueled gold's appeal as a safe-haven asset, despite potential consolidation ahead.
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European stock markets saw gains. Germany's DAX reached a record high. Investors felt relieved by signs of a possible ease in the global trade war. U.S. and China are expected to discuss trade. BP shares increased following takeover speculation. Energy and resources sectors performed well. Commerzbank and Mediobanca also saw gains. Bavarian Nordic shares jumped after strong revenue results.
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Global stocks showed strength, nearing six-week highs. This followed a US-UK trade agreement, boosting hopes for tariff talks. India offered tariff cuts to the US, seeking exemptions. Germany's Dax hit a record high. The US-UK deal is seen as a positive sign for trade relations. Investors shifted from bonds to stocks. Bitcoin reached its highest level since January.
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