Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Dollar Rises as Middle East Conflict Fuels Inflation and Rate Hike Fears 
Gold Prices Fall as US-Iran Conflict, Rising Oil Prices Fuel Fed Rate Concerns 
South Korea’s KOSPI Triggers Trading Curb as AI Chip Stock Selloff Deepens 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Iraq PM Visits Washington as U.S. Oil, Gas Deals Take Center Stage 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
Gold prices slipped slightly from a one-month peak during Asian trading on Wednesday, with investors closely watching developments between the United States and Iran as a fragile ceasefire deadline approaches next week. The pullback came after a strong rally in the previous session, driven by optimism over potential peace negotiations and encouraging U.S. inflation data.
Spot gold declined 0.6% to $4,815.17 per ounce, while gold futures edged down 0.3% to $4,838.40 per ounce as of early morning Eastern Time. Fellow precious metals followed suit, with silver dipping 0.4% to $79.27 per ounce and platinum holding relatively steady at $2,107.21 per ounce.
Tuesday's rally was sparked by softer-than-expected U.S. Producer Price Index figures for March, which showed that while headline inflation was pushed higher by rising energy costs, core inflation remained largely contained. The data mirrored a similar trend seen in recent Consumer Price Index readings and put pressure on the U.S. dollar, boosting gold's appeal as an alternative asset. Former Federal Reserve Chair and Treasury Secretary Janet Yellen added to the bullish sentiment by suggesting there could be room for at least one interest rate cut later this year. Since gold generates no yield, lower interest rates typically enhance its attractiveness compared to government bonds.
Geopolitical tension continued to shape market sentiment. The U.S. military confirmed it had fully enforced a naval blockade against Iran, a move widely interpreted as pressure on Tehran to reach a lasting peace agreement. President Donald Trump expressed confidence that additional ceasefire talks would take place within days and that a resolution to the now seven-week-old conflict was near. Both sides have reportedly remained open to dialogue, and the existing ceasefire appeared to be holding as of Wednesday morning.
Traders remain cautious, aware that any breakdown in negotiations could quickly reignite safe-haven demand and push gold prices higher once again.
