South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Malaysia Q2 Economy Grows 5.8%, Beating Forecasts on Strong Tech Exports and Domestic Demand 
Asian Stocks Slide as Nikkei Leads Losses on Tech Selloff and Rising U.S.-Iran Tensions 
AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
Oil Prices Set for Weekly Surge as U.S.-Iran Conflict Fuels Supply Fears 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Brazil Weighs IP Curbs, Patent Suspensions After New U.S. Tariffs 
Japan Core Inflation Seen Rising in June, Strengthening BOJ Rate Hike Outlook 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Nikkei Plunges 5% as AI Stock Selloff Spreads Across Asia 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Gold Prices Head for Biggest Weekly Loss Since June as Fed Rate Outlook Weighs 
Gold prices slipped in Asian trading on Thursday, extending recent losses as risk appetite surged following a U.S. federal court ruling against President Donald Trump’s trade tariffs. The decision triggered a rally in risk-driven assets and strengthened the U.S. dollar, weighing heavily on gold and other metals.
Spot gold dropped 0.5% to $3,273.19 per ounce, while August gold futures fell 0.8% to $3,297.25 by 00:47 ET (04:47 GMT). The precious metal is down 2.5% so far this week, pressured by profit-taking after hitting record highs last week and a strengthening dollar.
The U.S. Court of International Trade ruled that Trump exceeded his authority by imposing broad trade tariffs, stating that only Congress can approve such measures. Although the White House immediately appealed the ruling, markets responded with optimism that the tariff agenda might stall, boosting risk sentiment and hurting traditional safe-haven assets like gold and the Japanese yen.
The dollar rallied on hopes that reduced trade uncertainty could support the U.S. economy, further limiting gains in metal markets. Platinum futures inched up 0.2% to $1,080.10, and silver futures gained 0.5% to $33.328 per ounce. Copper futures also saw modest increases, with London Metal Exchange contracts up 0.2% to $9,586.20 per ton and U.S. copper futures rising to $4.6958 per pound.
Investors now await revised U.S. Q1 GDP data due Thursday, after preliminary figures showed an unexpected economic contraction that initially supported gold. The Federal Reserve's latest meeting minutes also revealed ongoing concerns over the economic outlook, adding further uncertainty to market direction.
