Iraq PM Visits Washington as U.S. Oil, Gas Deals Take Center Stage 
South Korea Central Bank Set to Raise Interest Rates as Inflation Stays Elevated 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Asian Currencies Weaken as Stronger Dollar Weighs, Yen Supported by GPIF Repatriation Hopes 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
South Korea’s KOSPI Triggers Trading Curb as AI Chip Stock Selloff Deepens 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Asia Stocks Slip as Iran-Hormuz Tensions Lift Oil Prices, Dollar and Bond Yields 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Gold prices edged lower during Asian trading on Thursday, retreating after modest gains in the previous session as investors continued monitoring escalating Middle East tensions threatening a fragile ceasefire between the United States and Iran.
Spot gold declined 0.3% to $4,704.96 per ounce, while U.S. Gold Futures dropped 1% to $4,731.84 per ounce. The previous session saw bullion briefly surge as much as 3% before settling just 0.3% higher, following news of a Pakistan-brokered two-week truce designed to halt hostilities and reopen the strategically vital Strait of Hormuz.
Despite the temporary agreement, market confidence remained shaky. Continued Israeli military strikes on Lebanon cast serious doubt over the truce's durability, while Iranian officials stated that ongoing attacks made peace negotiations "unreasonable" under current conditions. Tehran warned that persistent military activity undermines trust and could derail diplomatic efforts altogether, highlighting deep divisions over how the ceasefire framework would be enforced.
Meanwhile, oil prices staged a modest recovery Thursday after tumbling sharply when the ceasefire was first announced. Since gold is traditionally considered a safe-haven asset, rising oil prices have added pressure by amplifying global inflation concerns, which reduces gold's relative appeal to investors seeking stability.
Attention is now turning to the U.S. March Consumer Price Index report due Friday. Analysts expect the data to reflect energy-driven price pressures still filtering through the broader economy following the recent oil shock. The figures are expected to offer clearer direction on the Federal Reserve's next monetary policy move, with markets anticipating a notable uptick in inflation.
The U.S. dollar steadied after a 0.7% decline in the prior session, limiting further upside for gold. Other precious metals also saw losses, with silver falling 1.3% to $73.16 per ounce and platinum slipping 0.9% to $2,011.14 per ounce.
