Australian Shares Fall as Westpac Slides, Miners Gain Ahead of RBA Decision 
Asian Stocks Cautious Ahead of US Jobs Data as Oil Rises 
US Yen Intervention Unlikely to Deliver Lasting Recovery, Yardeni Says 
Gold Prices Steady as Hormuz Tensions Fuel Fed Rate Concerns 
Philippine GDP Growth Slows to 2.3% in Q2 
Asian Stocks Rise as Weak US Jobs Data Eases Fed Rate Hike Bets 
Japan Executives Warn Weak Yen and Currency Volatility Threaten Economy 
China Trade Surplus Beats Forecasts in July as Exports Stay Strong 
US Dollar Falls as Weak July Jobs Report Dents Fed Rate Hike Bets 
Oil Prices Rise as Hormuz Reopening Remains Uncertain 
Asian Stocks Rise as Weak US Jobs Data Eases Fed Rate Hike Fears 
Canada, US Hold Constructive Trade Talks as Tariff Negotiations Continue 
Trump Unveils $3 Billion U.S. Critical Minerals Push 
Japan Posts First Current Account Deficit in 17 Months as Dividend Payments Surge 
Asian Stocks Mixed as Chip Selloff Hits KOSPI, Nikkei Ahead of US Jobs Data 
China Exports Beat July Forecasts as AI Demand Fuels High-Tech Trade 
Asian Currencies Steady as Markets Await U.S. Jobs Data 
Gold prices remained largely steady on Monday, hovering near a seven-week high as investors assessed Middle East geopolitical risks and looked ahead to key U.S. inflation data that could influence the Federal Reserve’s interest-rate outlook.
Spot gold slipped 0.1% to $4,336.43 per ounce as of 00:27 ET (04:27 GMT), while U.S. gold futures edged 0.1% lower to $4,395.40. Despite the modest pullback, bullion remained close to the highest level since June 17, reached during Friday’s trading session.
Gold received support after U.S. labor-market data showed the economy unexpectedly lost jobs in July, while employment gains from previous months were revised sharply lower. The weaker jobs report prompted traders to reassess expectations surrounding the Federal Reserve’s September policy meeting.
Futures markets now indicate that the probability of a September Fed rate hike has fallen below 50%, compared with odds above 50% before the latest employment figures. A less restrictive monetary policy environment can benefit gold because lower interest rates reduce the opportunity cost of holding non-yielding assets such as bullion.
Attention is now shifting toward U.S. consumer price index data scheduled for Wednesday, followed by producer price figures on Thursday. Softer-than-expected U.S. inflation readings could further strengthen expectations that the Fed will adopt a more accommodative interest-rate stance, potentially providing additional support for gold prices.
Middle East uncertainty is also maintaining demand for safe-haven assets. Iran said it was approaching a final agreement with Oman on new shipping lanes through the Strait of Hormuz, although Washington would still need to satisfy several conditions before the strategic waterway could reopen.
While geopolitical tensions typically support gold demand, rising oil prices could complicate the outlook. Higher energy costs may increase inflationary pressures, potentially limiting the Federal Reserve’s ability to ease monetary policy.
Elsewhere in precious metals, silver prices climbed 0.5% to $63.89 per ounce, while platinum gained 0.5% to $1,757.50. Investors are likely to remain focused on U.S. inflation data, Fed rate expectations and developments in the Middle East for the next major direction in gold prices.
