CNBC Pro: Trump’s fresh tariffs have reignited the gold rally. Here’s how the pros are investing
Spot gold continued to rise Tuesday, after topping a three-week high in its previous session.
As of 10:55 a.m Singapore time (10:55 p.m. ET Monday), the precious metal was up 0.16% at $3,348.80 per ounce.
Spot gold
Mounting geopolitical tensions and uncertainties from Trump’s on-again-off-again tariffs have sent gold prices up by around 28% since the start of the year.
CNBC Pro spoke to three experts on where and how they are investing in the metal right now.
CNBC Pro subscribers can read the full story, here.
— Amala Balakrishner
Bitcoin falls after crossing $120,000 threshold in previous session
Bitcoin traded in negative territory Tuesday after it rallied and crossed the $120,000 threshold to hit a new a record high in the previous session.
As of 10.51 a.m. Singapore time (10.50 p.m. Monday ET), the cryptocurrency had declined 1.6% to trade at $118,301.70.
Bitcoin prices
China’s second-quarter GDP grows 5.2%, topping market expectations
China’s economy grew at a slower clip in the second quarter, slightly beating expectations as trade tensions with the U.S. rattled an economy already mired in deflation and a years-long housing downturn.
China’s gross domestic product expanded by 5.2% in the second quarter, according to China’s National Bureau of Statistics on Tuesday, slightly beating Reuters-polled economists’ estimates of a 5.1% growth, and decelerating from the 5.4% in the first quarter.
Read the full story, here.
— Anniek Bao, Evelyn Cheng
Chinese and Hong Kong stocks rise in early trade
Chinese and Hong Kong-listed stocks started the day higher Monday amid choppy trade in other key Asia-Pacific markets.
As of 9.49 a.m. local time (9.49 p.m. ET Monday), the Hang Seng Index added 1.12%, while mainland’s CSI 300 moved up 0.38%.
— Amala Balakrishner
Asia-Pacific markets open mixed
Asia-Pacific markets started the day mixed Tuesday.
As of 8.10 a.m. Singapore time (8.10 p.m. Monday ET), Japan’s Nikkei 225 benchmark was flat while the broader Topix index added 0.32%.
In South Korea, the Kospi index was down 0.31% while the small-cap Kosdaq moved up 0.26%.
Over in Australia, the S&P/ASX 200 benchmark advanced 0.66%.
— Amala Balakrishner
Here are the opening calls for the day
Good morning from Singapore.
Investors will be keeping a close watch on a slew of data points from China today, including its growth rate for the second quarter as well as urban investment and retail sales for June.
Economists polled by Reuters expect the Asian giant’s economy to expand 5.1% in the April to June quarter, from 5.4% in the preceding quarter.
Meanwhile, separate polls by Reuters show that China’s urban investments is forecast to have risen 3.6% between January and June, while its retail sales is expected to come in at 5.4% in June, compared to 6.4% the month before.
Japan’s benchmark Nikkei 225 was set to open higher, with the futures contract in Chicago at 39,560 while its counterpart in Osaka last traded at 39,510, against the index’s Monday close of 39,459.62.
Futures for Hong Kong’s Hang Seng index stood at 24,264, pointing to a stronger open compared to the HSI’s last close of 24,203.32.
Australia’s S&P/ASX 200 was also set to start the day higher with futures tied to the benchmark at 8,599, compared with its last close of 8,570.40.
— Amala Balakrishner
Stock futures open little changed
Stocks end Monday slightly higher
The major stock averages ended Monday in the green.
The S&P 500 edged higher by 0.14%, finishing at 6,268.56, while the Nasdaq Composite added 0.27% to settle at 20,640.33. The Dow Jones Industrial Average gained 88.14 points, or 0.20%, and ended at 44,459.65.
— Pia Singh
