Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
Gold prices edged lower in early Asian trading on Friday, retreating from recent record highs as a mix of profit-taking and shifting safe-haven demand weighed on the market. Despite the pullback, gold remains on track for an exceptional January performance, supported by geopolitical tensions, a weaker U.S. dollar, and uncertainty over interest rates.
Spot gold fell 0.5% to around $5,342.70 per ounce, while April gold futures ticked up 0.3% to approximately $5,365.39 per ounce. The modest decline followed a volatile session on Thursday, when gold prices surged to a record high near $5,600 per ounce before sharply reversing course. The rally was driven largely by reports suggesting the United States was preparing further military action against Iran, which boosted demand for safe-haven assets such as gold.
Even with Friday’s dip, bullion prices remained firmly on course for a stellar month. Spot gold has gained nearly 24% in January, marking its strongest monthly performance since the 1980s. The precious metal added roughly $1,000 per ounce over the course of the month, fueled by heightened global geopolitical risks and growing investor appetite for physical assets during times of uncertainty.
A notable decline in the U.S. dollar has also supported gold and other metals. Concerns surrounding U.S. fiscal health, combined with lingering questions about the future path of U.S. interest rates, have pressured the greenback, making dollar-denominated commodities more attractive to global investors.
Other precious metals also cooled after experiencing sharp swings earlier in the week. Spot silver slipped 1% to about $114.05 per ounce, staying close to a record high reached on Thursday. Platinum prices dropped nearly 2% to around $2,600 per ounce, while palladium also eased after strong recent gains.
Despite short-term volatility, the broader metals market has seen impressive gains in January. Silver has been the standout performer, surging more than 62% this month. Platinum is up roughly 28.4%, while palladium has gained about 25.3%, underscoring the strength of the ongoing metals rally as investors continue to seek protection amid global economic and geopolitical uncertainty.
