China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Gold prices slipped in Asian trading on Friday, trimming part of their weekly gains as demand for safe-haven assets weakened in the face of strong risk appetite. Spot gold dropped 0.3% to $3,847.27 per ounce, while December futures held steady at $3,871.12 by 01:06 ET (05:06 GMT). Earlier this week, spot prices touched a record high of $3,897.20 per ounce.
The decline comes as global equity markets remain upbeat, buoyed by optimism surrounding artificial intelligence and expectations of additional U.S. interest rate cuts. Despite concerns over an ongoing U.S. government shutdown, investors largely brushed off potential risks, citing the historically limited impact of such events on financial markets.
Gold has rallied for seven consecutive weeks, gaining 2.2% this week alone, as investors bet on more Federal Reserve easing in 2025. However, enthusiasm for risk-driven assets has capped demand for the yellow metal as a traditional safe haven.
Other precious metals also faced pressure. Spot platinum slipped 0.6% to $1,567.97, while spot silver steadied at $47.00 after advancing 2.3% this week.
Investor focus shifted toward private labor data after the government’s nonfarm payrolls release for September was delayed due to the shutdown. Weak employment indicators bolstered expectations of another 25 basis point Fed rate cut in October, following a similar move in September. CME FedWatch data shows markets pricing in a 99.3% probability of an October cut.
Challenger job cuts and ADP payrolls both signaled continued weakness in the labor market, heightening pressure on the Fed to ease policy further. However, officials remain cautious, with sticky inflation raising doubts about the need for aggressive rate reductions.
With gold prices near record highs and rate cut bets climbing, traders are balancing safe-haven demand against strong equity momentum—setting the stage for volatile moves ahead.
