The U.S. Federal Reserve will hold fire a bit longer on its first interest rate rise in nearly a decade, according to a little over half of economists in a Reuters poll who only last week narrowly predicted the Fed will pull the trigger on Thursday.
Oil prices jumped more than 4.5 %on Thursday after a rally in equity markets and an unexpected fall in U.S. crude inventories, but worries over the Chinese economy and a global oil glut kept the outlook uncertain.
China has approached foreign banks and gold producers to participate in a global gold exchange in Shanghai, people familiar with the matter said, as the world's top producer and importer of the metal seeks greater influence over pricing.
The CFTC reported that net short positions by speculators reached a record high of 129,616 contracts as of July 2. On July 11, Bloomberg calculated that gold-backed ETP holdings fell to 1,986.47 tons, the lowest level in three years.