Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Gold prices remained steady in Asian trade on Wednesday, consolidating sharp gains from earlier this week as rising U.S. fiscal deficit concerns and trade policy uncertainty bolstered safe-haven demand. Spot gold hovered at $3,337.25 an ounce, while August gold futures dipped slightly by 0.1% to $3,347.40/oz by 01:52 ET (05:52 GMT). Bullion has gained over 2% so far this week, reversing last week's losses triggered by the Israel-Iran ceasefire that temporarily dampened geopolitical risks.
The latest boost to gold came after the U.S. Senate narrowly passed President Donald Trump’s sweeping tax-and-spending bill, which is projected to add $3.3 trillion to the national debt. The bill, targeting tax cuts and increased military and immigration enforcement funding, now moves to the House for final approval ahead of a potential July 4 signing. Fears over the growing fiscal deficit have revived investor interest in safe-haven assets like gold.
Meanwhile, the market is closely watching Federal Reserve signals. Chair Jerome Powell reiterated a cautious stance on rate policy, saying the Fed would assess tariff impacts before adjusting interest rates. His comments were perceived as moderately dovish, with traders now eyeing Thursday’s U.S. nonfarm payrolls report for further clues on a potential July rate cut. A rate reduction in September is already widely anticipated.
Adding to gold’s support is mounting uncertainty around Trump’s July 9 tariff deadline. Trump reiterated there would be no extension and warned trading partners of impending tariff notifications. While he hinted at possible progress with India, he expressed skepticism about a deal with Japan.
Elsewhere in metals, silver held steady at $36.05/oz, platinum inched up 0.2% to $1,369.05, and copper gained with LME futures rising 0.4% to $9,968.65 a ton.
