Global stocks hit record highs on Wednesday, topping 2016's gains just two months into 2017, while the dollar rose before Federal Reserve minutes that will be scoured for clues about the next U.S. interest rate rise.
Global equity markets were set to end the week on a softer footing on Friday, after setting record highs in the previous two sessions, as investors looked for clarity on U.S. President Donald Trump's tax and trade policies.
China is considering forcing steel and aluminum producers to cut more output, banning coal in one of the country's top ports and shutting some fertilizer and drug plants as Beijing intensifies its war on smog, a draft policy document shows.
Gold slipped on Tuesday on a stronger dollar and as investors booked profits after the yellow metal hit a near three-month high in the previous session, amid safe-haven demand on the back of rising global political uncertainty. The dollar index, which measures the greenback against a basket of currencies, was up 0.7% at 100.610.
Gold and silver have started the new week how they ended the last one: higher. Last week saw silver extend its bullish run for the sixth straight week while gold recorded its fifth weekly gain in six. Correspondingly, it was the dollar’s fifth losing week in six as the Dollar Index fell below 100. U.S. stock markets ended the week higher, however, with the S&P 500 index extending its bullish run for the fifth consecutive week.