South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Japan Core Inflation Seen Rising in June, Strengthening BOJ Rate Hike Outlook 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
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 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
Nikkei Plunges 5% as AI Stock Selloff Spreads Across Asia 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Oil Prices Set for Weekly Surge as U.S.-Iran Conflict Fuels Supply Fears 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Brazil Weighs IP Curbs, Patent Suspensions After New U.S. Tariffs 
Malaysia Q2 Economy Grows 5.8%, Beating Forecasts on Strong Tech Exports and Domestic Demand 
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.
