European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
South Korea’s KOSPI Triggers Trading Curb as AI Chip Stock Selloff Deepens 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Dollar Eases as Middle East Conflict, Fed Outlook and Japan Pension Policy Drive FX Markets 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Gold prices rebounded modestly in Asian trading on Wednesday after slipping in the previous session due to profit-taking, as investors weighed the impact of newly imposed U.S. tariffs and monitored upcoming U.S.-Iran nuclear talks. Spot gold climbed 0.8% to $5,184.55 per ounce, while U.S. gold futures advanced 0.5% to $5,203.10 per ounce. The precious metal had declined 1.6% on Tuesday, ending a four-day winning streak.
Market sentiment remains sensitive to trade policy developments. The United States began enforcing a temporary 10% global import tariff on Tuesday, with the Trump administration reportedly working toward raising the levy to 15%. The move follows a U.S. Supreme Court decision last week that struck down earlier broad tariffs imposed under emergency powers, prompting officials to reintroduce duties under alternative legal authority. The renewed tariff strategy has fueled concerns over global trade stability and rising inflation, both key drivers for gold prices.
Geopolitical risks are also supporting safe-haven demand. The U.S. and Iran are scheduled to hold a third round of nuclear talks in Geneva on Thursday, keeping investors cautious. Heightened geopolitical tensions typically increase demand for gold as a hedge against uncertainty.
However, gains in the yellow metal were limited by expectations that U.S. interest rates will remain elevated for longer. Two Federal Reserve officials indicated little urgency to adjust monetary policy, reinforcing a higher-for-longer rate outlook. Elevated interest rates generally pressure non-yielding assets like gold by increasing the opportunity cost of holding them.
A stronger U.S. dollar further capped gold’s upside. The U.S. Dollar Index remained steady after rising 0.1% in the previous session, making dollar-denominated commodities more expensive for international buyers.
Among other precious metals, silver prices surged 1.6% to $88.59 per ounce, while platinum gained 2.3% to $2,224.60 per ounce, reflecting broader strength across the metals market.
