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China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Gold prices surged to a fresh record high in Asian trading on Wednesday, extending their winning streak for the third consecutive session as growing expectations of imminent U.S. interest rate cuts and renewed U.S.-China trade tensions fueled safe-haven demand.
Spot gold climbed 1.1% to $4,186.84 per ounce at 02:05 ET (06:05 GMT), after touching an all-time high of $4,193.6 earlier in the day. U.S. December Gold Futures rose 1% to $4,203.27. The yellow metal has now logged eight straight weeks of gains, with another potential weekly jump on the horizon if the rally continues.
The latest uptrend gained momentum following remarks from Federal Reserve Chair Jerome Powell, which investors interpreted as dovish. Powell noted that while the U.S. economy remains resilient, signs of a weakening labor market are emerging. He emphasized that the Fed’s decisions will continue to be made “meeting by meeting,” reinforcing expectations for possible rate cuts in October and December. Lower Treasury yields and a weaker dollar, both resulting from these expectations, have further boosted demand for non-yielding bullion.
Meanwhile, geopolitical uncertainty added to gold’s appeal. Tensions between the U.S. and China escalated after President Donald Trump suggested severing certain trade ties, particularly on cooking oil imports, in response to Beijing’s reduction in U.S. soybean purchases. Both nations also imposed reciprocal port fees on shipping companies, deepening their trade rift.
According to ING analysts, gold and silver are among the best-performing commodities of the year, up 55% and 80% respectively, driven by central bank easing, geopolitical risks, and strong safe-haven demand.
Other metals mirrored the trend, with silver up 1.4% to $52.12 per ounce, platinum rising to $1,687.20, and copper advancing 0.7% to $10,667.50 a ton. China’s latest inflation data also hinted at persistent deflationary pressures, raising hopes for further government stimulus to support its slowing economy.
