Gold Heads for Biggest Weekly Drop in a Month as Markets Rally

Gold headed for the biggest weekly decline in a month after a report showed the U.S. economy grew stronger than expected in the second quarter, reducing the metal’s appeal as a haven. Bullion for immediate delivery was little changed at $1,126.27 an ounce at 8:58 a.m. in Singapore, according to Bloomberg generic pricing. It has declined 2.7 percent this week, the first weekly loss in three. The U.S. expanded at a 3.7 percent annual...

Dollar Heads for Weekly Gain as Traders Boost Bets on Rate Rise

The dollar headed for its first weekly advance since the start of this month as a rally in stocks and accelerating growth fueled speculation the U.S. economy will be resilient to a slowdown in China. The greenback has gained against all its Group-of-10 peers except the yen this week as traders increased to 54 percent the odds the Federal Reserve will raise interest rates this year, from as low as 46 percent on Tuesday. The currency...

China Stocks Rise for Second Day as State Buying Seen Continuing

China stocks rose for a second day amid speculation the government has resumed its intervention in the equities market. The Shanghai Composite Index climbed 1.4 percent to 3,125.45 at 9:34 a.m., paring this week’s loss to 11 percent. The benchmark index rallied 5.3 percent on Thursday with all of the gains coming in the last 45 minutes of trading. PetroChina Co. led a rally for energy producers after crude futures soared 10 percent in...

China Stock-Index Futures Rise as State Buying Seen Continuing

China stock-index futures rose amid speculation the government has resumed its intervention in the equities market. CSI 300 futures for September jumped 4 percent at 9:15 a.m. local time, before the release of industrial companies’ profits. The central bank raised the yuan reference rate by 0.15 percent to 6.3986 per dollar on Friday morning, the most since March. The Shanghai Composite Index rallied 5.3 percent to 3,083.59 on Thursday,...

Asian Stocks Rise as U.S. Economy Grows Faster Than Forecast

Asian stocks rose for a third day as a global rally gathered pace and the U.S. economy grew faster than expected in the second quarter. The MSCI Asia Pacific Index gained 0.4 percent to 129.32 as of 9:01 a.m. in Tokyo. The gauge, which began this week with a two-day 5.1 percent slump, has rallied the past three days. Futures contracts indicated Chinese markets will continue a rebound, with contracts on the FTSE China A50 Index gaining...