Gold rose on Friday after US President Donald Trump announced new tariffs on Canadian imports and issued broader tariff threats to other trading partners, though a stronger dollar limited gains as investors assessed the latest trade actions.

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Oil prices rose on Wednesday as investors weighed strong US gasoline demand data, attacks on shipping in the Red Sea, and a forecast for lower US oil production.

State oil firm Saudi Aramco will ship about 51 million barrels to China in August.

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The Malaysian Rubber Glove Manufacturers Association (MARGMA) is calling on the Malaysian government to act swiftly and enter sector-specific tariff negotiations with the United States following the announcement of a steep import duty hike to 25 per cent.

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