"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Yields slipped after Powell said that the central bank will continue to act as appropriate to sustain the economic expansion.Bondsread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The president tweeted Friday morning that he was ordering "our great American companies" to "immediately start looking for an alternative to China."Marketsread more
Semiconductor stocks and shares of Apple slid on Friday after President Donald Trump said U.S. companies should "immediately start looking for an alternative" to their...Technologyread more
The two American car companies are among the top exporters of U.S.-produced vehicles to China along with BMW and Daimler/Mercedes-Benz, according to industry data obtained by...Autosread more
Multinationals that rely on the supply chain from China are tumbling after President Donald Trump ordered them to find alternatives to their Chinese operations.Marketsread more
Powell repeats his pledge to keep the economic expansion going while acknowledging that tariffs and other factors are causing growth to slow.The Fedread more
These are the stocks posting the largest moves in midday trading.Market Insiderread more
* Premiums in China fall to $6-8 an ounce
* Stronger yen pushes up Japan premiums, demand muted-trader
* Hong Kong, Singapore premiums little changed
* India's gold market: http://tmsnrt.rs/2b1Tl6J
MUMBAI/BENGALURU, May 17 (Reuters) - Gold was sold at a discount this week in India for the first time in 2-1/2 months as higher prices deterred jewelers and retail buyers, while currency fluctuations and economic worries triggered caution amongst buyers in other Asian hubs.
Gold futures in India, the world's second biggest bullion consumer after China, jumped to 32,538 rupees per 10 grams earlier this week, a peak since March 4.
"Customers are struggling to adjust with the sudden price rise. Some are waiting for a correction," said Harshad Ajmera, the proprietor of JJ Gold House, a wholesaler in the eastern Indian city of Kolkata.
Dealers offered a discount of about $2 an ounce over official domestic prices, versus a premium of $2.5 last week.
The domestic price includes a 10% import tax and 3% sales tax.
"Retail demand was good during Akshay Tritiya. Jewelers have to replenish inventory but they are not doing so due to the price rise," said a Mumbai-based dealer with a bullion importing bank.
Last week, Indians celebrated the Akshaya Tritiya festival, when buying gold is considered auspicious.
In China, premiums fell to $6-8 from $8-12 last week, compared with mid-April when premiums hit a two-year high of around $20 over the benchmark.
Global benchmark spot gold held around $1,284 an ounce on Friday, having climbed to a one-month peak of $1,303.26 earlier this week.
However, trading volume has picked up at the Shanghai Gold Exchange, said Samson Li, a Hong Kong-based precious metals analyst with Refinitiv GFMS.
"Investment demand may pick up later, especially as people are already speculating whether the yuan would fall further," he added.
The yuan fell to its weakest since December on Friday.
Meanwhile, buyers in Japan kept a close eye on currency fluctuations, with the Japanese yen strengthening this week, a Tokyo-based trader said, adding that demand had not, however, moved significantly due to weak economic conditions in Japan and China.
The stronger yen pushed premiums to about $1 from 50 cents last week, the trader added.
In Hong Kong, demand was quiet as people are closely watching the U.S.-China trade talks, said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong.
Premiums in the region were little changed at 60 cents-$1.30.
In Singapore too, demand was quiet, as the Akshaya Tritiya festival has ended and most jewelers have already bought gold, said Brian Lan, managing director at dealer GoldSilver Central in Singapore.
The premiums were unchanged at 60-80 cents.
Also, the Singapore dollar has strengthened against the U.S. greenback, making Singapore gold more expensive, added Lan. (Reporting by Rajendra Jadhav in Mumbai, Harshith Aranya and Arijit Bose in Bengaluru; editing by Arpan Varghese and Elaine Hardcastle)