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Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
U.S. Stock Futures Mixed as Tech and AI Stocks Face Pressure Ahead of CPI Data 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
China’s Small Bank Consolidation Struggles as Profits Fall and Risks Persist 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
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.
