Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks 
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Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
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Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
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RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
Gold prices dropped in Asian trading on Monday, pressured by a strong U.S. dollar and fading hopes of near-term interest rate cuts. Spot gold fell 0.7% to $3,312.12 an ounce, while September gold futures slipped 0.8% to $3,320.67. The dollar held firm after last week’s upbeat U.S. payrolls data, which reduced expectations of a Federal Reserve rate cut in July or September.
Market sentiment was further dampened by renewed tariff threats from U.S. President Donald Trump. On Sunday, Trump warned of an additional 10% levy on nations aligned with BRICS, accusing the bloc of anti-American policies. However, the move did little to boost safe haven demand for gold, as Trump also delayed the implementation of new tariffs from July 9 to August 1, giving countries more time for trade negotiations.
Since April, the U.S. has secured only a few trade deals—most notably with the UK, China, and Vietnam—despite Trump’s claim of targeting 90 agreements in 90 days. Meanwhile, the CME FedWatch tool indicated a sharp decline in market bets on upcoming rate cuts, following robust labor market data. Higher interest rates typically support the dollar while weighing on commodities priced in the greenback.
The impact extended across other metals. Platinum futures dropped nearly 2% to $1,381.00 an ounce after a strong June rally. Silver futures declined 0.6% to $36.91. Industrial metals were also under pressure, with London copper futures falling 0.6% to $9,807.10 per ton and U.S. copper futures down 1% to $5.0130 per pound.
Investors remain cautious amid global trade uncertainty and shifting monetary policy expectations, keeping metal prices under pressure heading into the second half of 2025.
