Canada Faces 50% U.S. Tariffs as Trade Tensions Threaten USMCA Talks 
Malaysia Inflation Eases to 1.8% in July, Below Forecast 
Asian Stocks Steady as Iran War Keeps Oil Prices and Inflation Risks Elevated 
Gold Prices Rise as Weak US Retail Sales Cut Fed Rate Hike Bets 
Morgan Stanley Sees Fed Holding Rates as U.S. Inflation Cools 
Oil Prices Rise as Iran-U.S. Tensions Threaten Strait of Hormuz Supply 
Yen Edges Higher as Weak US Data Dampens Fed Rate Hike Expectations 
Japan Economy Grows 1.1% in Q2 as Consumer Spending Stalls 
Barclays Warns U.S. Stock Rally May Be Detached From Fundamentals 
Strait of Hormuz Shipping Near Standstill After New Vessel Attacks 
Oil Prices Steady as Strait of Hormuz Traffic Slows Amid US-Iran Conflict 
Oil Prices Rise as U.S.-Iran Tensions Grip Strait of Hormuz 
US Dollar Slips as Weak Retail Sales Reduce Fed Rate Hike Bets 
US Dollar Hovers Near Multi-Month Lows as Fed Rate Hike Bets Ease 
European Stocks Edge Higher as Fed Rate Pause Bets Rise 
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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.
