The Japan Times - Gold nears $5,000, global stocks muted ending turbulent week

Gold -- a safe haven asset -- pushed towards a record $5,000 an ounce despite "a calmer end to a chaotic week on the markets", said Dan Coatsworth, head of markets at AJ Bell.

"Gold nudged ahead... as investors were reluctant to let go of their safety blanket, just in case Donald Trump woke up with another controversial idea," he added.

And silver jumped almost three percent to reach record highs to within 25 cents of $100 as a weakening dollar saw precious metals firm.

Sentiment has calmed over the past two days after the US president pulled back from his warning to hit several European nations with levies because of their opposition to Washington taking over the Danish autonomous territory.

After European stocks hesitated -- London, Paris and Frankfurt all dipped -- Wall Street saw a turgid opening as the Dow was down 0.6 percent some 30 minutes into the session. The broader S&P 500 and tech heavy Nasdaq just edged into the red.

Intel plunged 16 percent after lacklustre expectations on the chip-maker’s earnings.

Asian markets closed higher, tracking a successive advance on Wall Street.

- Powell under pressure -

Trump's latest salvo against allies revived trade war fears and uncertainty about US investment, putting downward pressure on the dollar this week.

Analysts said there was no guarantee that Europe-US relations had improved durably.

The US president's willingness to threaten tariffs over any issue had rattled confidence on trading floors, weighing on the dollar and boosting safe-haven metals, analysts said.

Investors were also preparing for next week's Federal Reserve meeting following economic data broadly in line with forecasts and after US prosecutors took aim at boss Jerome Powell, which has raised fears over the bank's independence.

The bank is tipped to hold interest rates, having cut them in the previous three meetings.

The meeting also comes as Trump considers candidates to replace Powell when his term comes to an end in May.

The Bank of Japan left its key interest rate unchanged ahead of the country's snap election next week, which could impact government spending plans.

After sharp volatility in the wake of the announcement, the yen traded slightly higher.

In company news, the share price of Japanese giant Nintendo closed up 4.5 percent as industry data showed its Switch 2 console led the US hardware market in unit and dollar sales in 2025.

Czech weapons manufacturer CSG debuted on the Amsterdam stock market Friday, raising 3.8 billion euros ($4.5 billion) -- the world's biggest initial public offering in the defence sector.

Next week's US earnings calendar is packed with results from Apple, Microsoft, Boeing, Tesla, Meta and other corporate giants.

- Key figures at around 1445 GMT -

New York - Dow: DOWN 0.6 percent at 49,063.07 points

New York - S&P 500: DOWN 0.2 percent at 6,902.68

New York - NASDAQ: DOWN 0.1 percent at 23,417.71

London - FTSE 100: DOWN 0.1 percent at 10,145.00

Paris - CAC 40: DOWN 0.4 percent at 8,115.47

Frankfurt - DAX: DOWN 0.2 percent at 24,811.35

Tokyo - Nikkei 225: UP 0.3 percent at 53,846.87 (close)

Hong Kong - Hang Seng Index: UP 0.5 percent at 26,749.51 (close)

Shanghai - Composite: UP 0.3 percent at 4,136.16 (close)

Euro/dollar: DOWN at $1.1743 from $1.1751 on Thursday

Pound/dollar: UP at $1.3529 from $1.3500

Dollar/yen: DOWN at 158.30 yen from 158.39 yen

Euro/pound: DOWN at 86.81 pence from 87.05 pence

West Texas Intermediate: UP 2.5 percent at $60.90 per barrel

Brent North Sea Crude: UP 2.5 percent at $65.65 per barrel

M.Yamazaki--JT