US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
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 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Gold prices continued to climb in Asian trade on Tuesday, building on strong overnight momentum as traders increasingly priced in the likelihood of a U.S. Federal Reserve interest rate cut in December. The precious metal rose despite a steady U.S. dollar, supported by heightened safe-haven demand ahead of key U.S. economic data releases.
Spot gold inched up 0.3% to $4,145.57 per ounce, while February gold futures added 0.2% to reach $4,180.00. The shift in sentiment followed dovish comments from two Federal Reserve officials, which prompted markets to sharply revise expectations for a December policy move. According to the CME FedWatch tool, traders now see a 77.2% probability of a 25-basis-point rate cut during the December 9–10 meeting, up from just 41.8% a week earlier.
A potential rate cut typically benefits gold and other non-yielding assets by reducing the appeal of interest-bearing investments. Gold has already hit multiple record highs this year, supported by the Fed’s recent decisions to ease policy during its last two meetings. Investors also continue to favor gold amid rising geopolitical risks, including escalating tensions between China and Japan and persistent concerns about ballooning fiscal deficits across developed economies.
Other precious metals tracked gold’s upward movement, with platinum rising 0.5% to $1,570.65 per ounce and silver gaining 0.8% to $51.5555. Base metals also advanced, with benchmark copper on the London Metal Exchange jumping 1.2% to $10,887 per tonne.
Market participants are now awaiting a series of U.S. economic indicators expected this week, including producer price inflation and retail sales due Tuesday, followed by the Fed’s preferred inflation metric—the PCE price index—scheduled for Wednesday. These will be the most recent datasets available ahead of the December meeting, as officials confirmed that October’s inflation and labor statistics will not be released due to a prolonged government shutdown. This earlier uncertainty had fueled expectations of a potential rate hold, but renewed clarity on September data has shifted momentum toward a cut.
