South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Gold Prices Head for Biggest Weekly Loss Since June as Fed Rate Outlook Weighs 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Asian Stocks Slide as Nikkei Leads Losses on Tech Selloff and Rising U.S.-Iran Tensions 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Brazil Weighs IP Curbs, Patent Suspensions After New U.S. Tariffs 
Japan Core Inflation Seen Rising in June, Strengthening BOJ Rate Hike Outlook 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Malaysia Q2 Economy Grows 5.8%, Beating Forecasts on Strong Tech Exports and Domestic Demand 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
Gold prices climbed in Asian trade on Friday, nearing record highs as investors sought safe-haven assets amid economic uncertainty. The metal is poised for strong weekly gains, driven by renewed U.S.-China trade tensions and a weaker dollar. Escalating geopolitical risks in the Middle East also bolstered gold’s appeal.
Spot gold rose 0.2% to $2,862.67 an ounce, while futures increased 0.3% to $2,884.81. The metal has gained 2.4% this week. Analysts at Citi and UBS raised their gold price forecasts for 2025, predicting a continued bull market. Citi expects gold to hit $3,000 in the short term, while UBS sees it reaching that level by year-end.
Gold remains strong ahead of the highly anticipated U.S. nonfarm payrolls report, which could impact Federal Reserve policy. A robust labor market could delay interest rate cuts, potentially weighing on gold’s long-term outlook. The Fed has signaled caution on rate adjustments due to persistent inflation and economic uncertainty.
Other precious metals also saw gains this week. Silver futures edged up to $32.678 an ounce, while platinum futures held steady at $1,021.65.
Copper prices advanced as traders bet on Chinese stimulus measures to counteract trade war effects. London Metal Exchange copper futures climbed 1.1% to $9,389.85 a ton, while March copper futures rose 0.6% to $4.4875 a pound. Beijing is expected to introduce economic support to mitigate the impact of U.S. tariffs, following Trump’s recent 10% duty on Chinese imports. Analysts at JPMorgan anticipate further tariff hikes, potentially escalating tensions.
Investors remain focused on key economic data and policy decisions that could shape market trends in the coming months.
