Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
Gold Prices Fall as US-Iran Conflict, Rising Oil Prices Fuel Fed Rate Concerns 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
South Korea’s KOSPI Triggers Trading Curb as AI Chip Stock Selloff Deepens 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
South Korea Central Bank Set to Raise Interest Rates as Inflation Stays Elevated 
Dollar Rises as Middle East Conflict Fuels Inflation and Rate Hike Fears 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Iraq PM Visits Washington as U.S. Oil, Gas Deals Take Center Stage 
Gold prices edged up in Asian trading on Monday, recovering modestly after a turbulent week marked by sharp volatility tied to escalating geopolitical tensions between the United States and Iran. Spot gold climbed 0.4% to $4,509.51 per ounce, while gold futures similarly gained 0.4%, reaching $4,537.40 per ounce. The precious metal had plunged to a weekly low of $4,000 per ounce before rebounding close to $4,500 by Friday's close.
Other precious metals showed mixed performance. Spot silver slipped 0.9% to $69.09 per ounce, while platinum outperformed with a 1.8% gain, settling at $1,898.73 per ounce.
Analysts at OCBC cautioned that gold's recovery from recent lows looks largely technical rather than fundamentally driven. They pointed out that prices had dropped nearly 20% since the Iran conflict began, and while bearish momentum shows early signs of cooling — with the relative strength index climbing out of oversold territory — the road to a sustained recovery remains uncertain. Key resistance levels to watch are $4,624, $4,670, and $4,850 per ounce. According to OCBC, a lasting rebound would require gold to break above and hold those thresholds. Persistent energy price inflation poses an additional headwind, as it could push Treasury yields higher and weigh on gold's appeal.
Geopolitical risk continued to dominate sentiment after Yemen's Houthi rebels, backed by Iran, launched fresh attacks on Israel over the weekend. The group's potential to disrupt Red Sea shipping lanes adds another layer of uncertainty to global markets. Iran has signaled readiness for a U.S. ground offensive, while Washington has been reportedly mobilizing thousands of troops to the region. President Trump indicated that diplomatic negotiations with Iran are progressing and that a deal may be near, though no concrete timeline was provided. He also extended the deadline for potential strikes on Iranian energy infrastructure to early April, keeping markets on edge.
