With the United States just a day away from exhausting its ability to borrow money, US Senate leaders were still discussing a deal late on Tuesday aimed at raising the debt limit and reopening federal agencies that have been closed for two weeks
Brent oil dived a dollar to its lowest in a month on Thursday as sovereign debt mountains and economic pain threatened to dent fuel demand, while Japan's intervention to stem the rise in the yen boosted the US currency.
Brent was $1.20 a b
Gold traded within sight of record highs on Tuesday after a last-minute deal to avoid an unprecedented US debt default and the first bullion purchase by Korea in 13 years, against a backdrop of growing economic pessimism.
Gold defied the s
Facing a deadline to avoid a ruinous US default, congressional leaders on Saturday braced for a tense weekend of negotiations to try to reach a compromise on a measure to increase in the country's $14.3 trillion debt limit.
Senate Democrats aimed to seize the initiative in efforts to head off a ruinous US debt default by pushing their deficit-cutting plan on Saturday toward a possible compromise with a divided Republican Party.
Entrenched differences were sti
Gold hit another all-time high on Friday as investors sought a safe haven after anemic US growth data raised the specter that a potential recession could spur the Federal Reserve to loosen monetary policy.
Gold was helped by a sinking doll
Democrats sought to forge a last-ditch compromise with Republicans on Friday by offering a concession to avoid a crippling US default, but a bitter divide remained before Tuesday's deadline to raise the country's debt ceiling.
The United Arab Emirates' central bank said on Thursday it was confident there will be a compromise to avert a US debt default by an Aug. 2 deadline, adding that it holds no US Treasury bonds or US financial instruments.
Qatar's central bank Governor Sheikh Abdullah bin Saud Al-Thani is optimistic that a solution to the US debt crisis can be agreed within a week, he was quoted as saying on Tuesday.
Qatar and other Gulf Arab states are major holders of
Policymakers worldwide oscillated between hope and confidence on Monday that US lawmakers will break a debt impasse that threatens to trigger a default and up-end global financial markets.
Asia, which holds close to