By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets

• Gold hits record high as US-China ties worsen, Asia stocks helped by tech
• Asia tech shares gain as Intel delays new chips
• Earnings, US stimulus talks in focus
• Gold rose 1% to record high of $1,920.9/oz.
• Oil down on worsening Sino-US relations
• Brent down 0.5% at $43.14, WTI down 0.44% at $41.11

Oil Markets

• Oil slips as rising virus cases, US-China tensions weigh on markets
• Brent set to post 4^th monthly gain in July
• Brent down 0.3% at $43.20 a barrel (0242GMT)
• WTI down 0.2% at $41.19

Precious metals

• Gold soars to all-time high as dollar dive adds fuel to record run
• Silver notches up fresh 7-yr peak
• Spot gold up 1.5% at $1,928.83/oz. (0306GMT)
• US gold futures up 1.4% at $1,924.20/oz.

Grains

• Soybeans drop for second session on US-China tension, wheat falls
• Soybean futures down 0.2% at $8.97-1/2 a bushel (0323GMT)
• Wheat down 0.7% at $5.35-3/4 a bushel
• Corn down 0.3% at $3.34 a bushel

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]

• ECOWAS leaders meet virtually on Mali; follow-up to their trip to Bamako last week
• Bank of Ghana decides interest rates [fcst. 14.5%, prev. 14.5%]
• Kenya’s Kenyatta meets county governors on covid-19 response
• Electoral Commission of Ghana press briefing on ongoing voter registration
• Ghana’s NDC flagbearer Mahama formally “outdoors” running mate Opoku-Agyemang
• South Africa state capture inquiry continues
• Key African countries on lockdown or restricted; subdued economic activity
• Covid-19 updates by authorities across the continent

Key African events or data releases over the weekend & early a.m today

• Some 120 said to be killed or wounded in attack in Sudan’s Darfur region – UN
• Morocco shuts down major cities after spike in coronavirus cases
• Kenya arrests two police after ‘shooting incident’, launches enquiry
• South Africa extends covid-19 loans for struggling businesses
• Rwanda refugee put under formal investigation for Nantes Cathedral fire – Le Monde
• Tunisia president designates new PM amid hopes of ending political crisis
• Somalia’s parliament ousts prime minister in no-confidence vote
• Deposed CAR leader announces presidential bid
• South Africa police nab 63 prisoners from mass escape
• Senegal strengthens coronavirus testing for travellers
• Zimbabwe court rules journalist danger to public, extends detention
• Morocco fertiliser group OCP could quit US if duty imposed, sources say
• Botswana rape survivor fights sexual violence with awareness campaign
• MTN Uganda stake sale to be restricted to East Africans – regulator
• 15 Zambia lawmakers, 11 parliamentary staff contract covid-19
• South Africa’s Pepkor Q3 sales drop 17% on lockdown hit
• Tanzania former president Mkapa, regional peacemaker dies
• South Africa’s MTN buoyed by expected leap in first-half earnings
• Libyans face painful power cuts as years of chaos hit grid
• Kenya recycling firm mixes kitchen waste to boost urban farming
• Kenya covid-19 hospital gears up for surge in new infections
• South Africa’s Woolworths sees annual sales dip as covid-19 hits
• South Africa’s MTN expects at least 100% jump in first-half earnings
• Prominent South Sudan critic says govt sent hit squad for him; Juba denies

N.B. Full stories of above headlines are available on Reuters