Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
South Korea GDP Surges on Chip and AI Boom 
China to Inject $45 Billion Into State Financial Institutions 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
Brent Oil Tops $100 as Middle East Conflict Threatens Supply 
Gold Prices Rise as Yen Rally Weakens Dollar 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
UK House Prices Fall for First Time Since 2023 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
Iran Plans New Gulf Restricted Zone as Hormuz Tensions Push Oil Higher 
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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.
