UK House Prices Fall for First Time Since 2023 
Iran’s Hormuz Oil Pressure Fades as Gulf Crude Flows Continue 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
Yen Rebounds as BOJ Rate Hike Bets Rise 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
Uranium Prices Could Top $100 as Nuclear Demand Grows 
Singapore Straits Times Index Hits Record High as Banks, Property Stocks Rally 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
U.S. Payrolls Seen Rebounding in August as Labor Market Stays Soft 
Jefferies Names 6 Top India Stock Picks Across Key Sectors 
US Oil Blockade Deepens Iran’s Economic Crisis 
Japan, US Target AI and Chips in $550 Billion Investment Push 
ECB Set for September Rate Hike as Energy Prices Fuel Inflation 
Japan Foreign Reserves Plunge $79.6 Billion After Record Yen Intervention 
China Expands Influence in Global Gold Market 
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Gold prices remained close to the $4,400-an-ounce mark on Tuesday as weaker U.S. economic data reduced expectations for further Federal Reserve tightening, while escalating Middle East tensions boosted safe-haven demand.
Spot gold (XAU/USD) gained 0.3% to $4,429.49 an ounce, while gold futures advanced 0.3% to $4,486.07. Silver rose 0.8% to $66.28 an ounce, and platinum edged 0.2% higher to $1,776.29. Meanwhile, the U.S. Dollar Index was broadly unchanged near 99.57.
Gold has climbed roughly 1.5% over the past two sessions, extending its recovery from around $4,000. Recent softer U.S. economic indicators have weakened expectations that the Federal Reserve will raise interest rates again this year. Interest-rate markets no longer fully price in another Fed hike before year-end, easing a major source of pressure on non-yielding assets such as gold.
Despite the improved rate outlook, long-term Treasury yields remain elevated. The 30-year U.S. Treasury yield reached its highest level in nearly two decades amid concerns over government spending, increased debt issuance and persistent inflation risks. While higher yields typically weigh on bullion, worries about rising government debt have strengthened gold's appeal as a defensive asset.
Gold is also testing important technical levels after moving back toward its 100-day moving average. Investors are watching resistance around $4,440 to $4,450, followed by the 200-day moving average near $4,503. A sustained breakout above these levels could strengthen expectations for a recovery toward $5,000.
Geopolitical uncertainty is providing additional support. Renewed fighting in Lebanon, tensions between the U.S. and Iran, and continued shipping disruptions around the Strait of Hormuz have raised concerns about energy prices and inflation.
China has also contributed to gold demand through stronger investor interest and central-bank purchases. Markets will next focus on minutes from the Federal Reserve's July meeting and Fed Chairman Kevin Warsh's upcoming Jackson Hole remarks for clues on the U.S. interest-rate outlook.
