AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
Japan Core Inflation Seen Rising in June, Strengthening BOJ Rate Hike Outlook 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Asian Stocks Slide as Nikkei Leads Losses on Tech Selloff and Rising U.S.-Iran Tensions 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Gold Prices Head for Biggest Weekly Loss Since June as Fed Rate Outlook Weighs 
Brazil Weighs IP Curbs, Patent Suspensions After New U.S. Tariffs 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Nikkei Plunges 5% as AI Stock Selloff Spreads Across Asia 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Oil Prices Set for Weekly Surge as U.S.-Iran Conflict Fuels Supply Fears 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Malaysia Q2 Economy Grows 5.8%, Beating Forecasts on Strong Tech Exports and Domestic Demand 
Gold prices edged higher on Friday after two days of steep losses, supported by investor caution ahead of U.S.-China trade talks and mixed signals from the new U.S.-U.K. trade framework. Spot gold rose 0.4% to $3,320.95 per ounce, while June gold futures gained 0.5% to $3,329.24 as of 05:44 GMT. Despite recent volatility, the yellow metal is poised for a weekly gain of over 2%, reflecting lingering uncertainty in global markets.
Earlier in the Asian session, gold slipped on optimism surrounding easing trade tensions. However, doubts remain over the broader impact of the U.K. trade agreement, especially with the U.S. maintaining a 10% tariff on British imports. In response, the U.K. reduced its tariff rate to 1.8% from 5.1%. President Donald Trump confirmed the deal on Thursday and hinted at substantive upcoming negotiations with China, scheduled for the weekend.
Commerce Secretary Howard Lutnick emphasized that more trade deals are expected but reiterated the administration’s intent to uphold the 10% blanket tariff. ING analysts expressed skepticism that the U.K. deal would spark wider trade de-escalation, noting that only progress with China could significantly impact global trade dynamics.
A weaker U.S. dollar also supported gold prices by making the metal more attractive to international buyers. Meanwhile, silver futures held steady at $32.653 an ounce, and platinum rose 0.5% to $986.55.
In base metals, copper prices dipped despite resilient Chinese trade data. London copper futures fell 0.4% to $9,395.20 a ton, while July copper contracts on U.S. exchanges dropped 1.4% to $4.540 a pound, reflecting cautious sentiment ahead of trade talks with Beijing.
