Copper rose to a two-month high to cap a strong week for metals, helped by the Federal Reserve’s half-point rate cut.

The long-anticipated cut, larger than the typical quarter-percent (25 bps) drop, was the first since the Fed started raising rates in 2022 to curb skyrocketing inflation.

Gold hovered near record levels on Friday and was on track for a weekly gain after the U.S. Federal Reserve's recent oversized interest rate reduction and on signs that further cuts were on the horizon.

Citigroup was told to address its data management issues in the US after being fined $136 million in July which has added complications in meeting China's licensing requirements

Citigroup's expansion plan in China has hit a roadblock with U.S. regulators after the Federal Reserve imposed a penalty on the bank for its data management and risk controls, Bloomberg News reported on Sunday.

Citigroup Inc.’s expansion plan in China has hit a roadblock with US regulators after the Federal Reserve imposed a penalty on the bank for its data management and risk controls, according to people familiar with the matter.