Weekly

On March 25

Today's range:

Last night's stronger-than-expected manufacturing and non-manufacturing data pointed to a continued rise in U.S. inflation, even as stocks rallied after labor data hit its lowest level in more than 50 years, refocusing markets on deteriorating U.S. inflation.

Adding to the appeal of gold to investors, bullion broke through the $1,950 barrier yesterday and has the ability to climb higher. Today's recommended range is $1951 to $1972.

Affected by international oil prices, U.S. stocks fell overnight, Hong Kong stocks opened 150 points lower to close down. Tencent reported revenue growth of 8 percent in the fourth quarter of last year, missing market expectations, but adjusted net profit fell 25 percent in the period,

The poor results sent shares down nearly 6% and led the sector below. The Hang Seng index ended down 208 points or 0.94% at 21946, falling below the 22,000 level, which is expected to continue to struggle in the near term.

The war between Russia and Ukraine remains stuck and there has been no progress on talks between the two countries. Russia's demand that countries, including those in the European Union, pay for their natural gas purchases using Russia's legal tender, the ruble, has prompted news

The ruble rose to its highest level against other currencies since the war with Ukraine. And Putin's alternative operation will exacerbate inflation in the euro zone, investors worried that inflation will force the European Central Bank to raise interest rates earlier, the three major European stock markets rose and fell in mixed yesterday,

Germany's DAX index fell 0.05%; France's Paris CAC index fell 0.39%; The FTSE 100 index rose 0.25 percent in Britain, which itself is not dependent on Russian gas.

The Labor Department last night reported a 53-year low of 187,000 new claims for unemployment benefits last week, beating market expectations. U.S. stocks rallied on better labor data, with all three major Indexes on Wall Street rising

More than 1%, the Dow was up 1.02%; The S&P 500 rose 1.42%; The Nasdaq rose 1.93%. Both manufacturing and non-manufacturing data released last night came in higher than expected, suggesting that US inflation continues to pick up even though

Wall Street rallied on the labor data, which hit its lowest level in more than 50 years, but that did little to dampen gold's appeal to investors. Gold traded as low as $1,937.5 a day before breaking through resistance at $1,950 after the data was released and rose as high as $1,950

$1,966.2, pared gains before closing, but was still up $13.2 at $1,957.8.

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