Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
Oil Prices Slip in Asia as 2026 Supply Glut Fears and Russia-Ukraine Talks Weigh on Markets 
Asian Stocks Slide as AI Spending Fears and Global Central Bank Decisions Weigh on Markets 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Asian Stocks Slide as AI Valuation Fears and BOJ Uncertainty Weigh on Markets 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Gold prices slipped slightly in Asian trading Monday, pressured by a stronger U.S. dollar following American military strikes on key Iranian nuclear sites. The geopolitical escalation in the Middle East shifted safe-haven demand away from gold and toward the greenback, which rose over 0.3% against a basket of major currencies.
Spot gold dipped 0.2% to $3,360.11 per ounce, while gold futures fell 0.3% to $3,374.72 by 01:08 ET. Despite the drop, gold remained supported by gains earlier in June, driven by heightened demand during the Israel-Iran conflict.
The U.S. attack, ordered by President Donald Trump, targeted three Iranian nuclear facilities, with Trump claiming it significantly set back Tehran’s nuclear ambitions. Iranian officials denied the allegations, but tensions soared as Iran vowed retaliation. Concerns grew over a potential Iranian move to block the Strait of Hormuz, a critical oil shipping route, fueling a surge in global oil prices.
Rising energy prices revived inflation fears, reducing expectations for near-term U.S. interest rate cuts and supporting dollar strength—further weighing on gold. Market focus now turns to comments from Federal Reserve Chair Jerome Powell, who is scheduled to testify before Congress this week, potentially offering more guidance on future monetary policy.
Other precious metals also eased. Platinum futures slipped 0.1% to $1,263.15 per ounce, retreating from a recent four-year high, while silver edged up 0.1% to $36.05, hovering near a 13-year peak. In industrial metals, London copper futures fell 0.1% to $9,643.15 per ton, and U.S. copper futures declined 0.3% to $4.820 per pound.
The broader retreat in metals highlights investor caution amid intensifying geopolitical risks and monetary policy uncertainty.
