He threatened a “massive increase” in tariffs on Chinese goods. Trump also canceled a planned meeting with President Xi Jinping at the upcoming APEC summit.

But just like gold, silver is also a hedge against inflation and uncertainty. It’s also known for its industrial use, finding its way into everything from medicine to electric vehicles.

Singapore’s market revival and growing appeal to investors are highlighted by a Bloomberg ranking of the world’s busiest IPO destinations, where it jumped to ninth place with US$1.44 billion (S$1.86 billion) raised.

“If the technology doesn’t catch up and doesn’t deliver as per the high expectations that the market’s pricing in, then we’re in for a bubble,”

Spot gold was up 0.3 per cent at US$3,457.16 per ounce, as at 10.00 am, hitting its highest point since Apr 23.

Some analysts have pointed to Beijing’s campaign against deflation as a big driver of the rally. Others are more cautious, however, saying the campaign will only deliver higher earnings in some sectors.

The yuan’s share in global payments fell to 2.88% in June, its lowest in two years, compared with nearly 47% for the US dollar, according to SWIFT.

China has blocked crypto activity since 2021, but Washington’s policy shift under Trump and growing international adoption may be pushing Beijing to reassess its stance.

Investors took reassurance from the Trump administration’s willingness to exempt the semiconductor industry from onerous tariffs if companies commit to investing in the United States.

Released on Tuesday, the proposal seeks to establish a unified multidimensional fee market, allowing users to specify a single aggregate maximum fee for multiple resources. 

Between Apr 9 and Jul 24, the STI surged 25.9 per cent, rebounding strongly from earlier declines due to Trump’s tariff announcements.

The action marks the first major crypto-friendly policy shift under new SEC Chair Paul Atkins.