Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
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 Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Gold prices rebounded on Wednesday after posting losses in the previous session, as investors evaluated the impact of newly imposed U.S. tariffs and looked ahead to upcoming U.S.-Iran nuclear talks. Spot gold climbed 1.2% to $5,203.69 per ounce, while U.S. gold futures gained 1% to $5,226.20 per ounce. The recovery follows a 1.6% decline on Tuesday, which ended a four-day winning streak for the precious metal.
Market analysts noted that gold has generated a new daily MACD buy signal, pending confirmation. If confirmed, the signal could support near-term upside momentum, with minor resistance near the all-time high of around $5,586 per ounce. However, some technical indicators suggest potential consolidation ahead, with key support resting at the 50-day moving average.
Investor attention remains focused on global trade tensions. The U.S. began enforcing a temporary 10% global import tariff this week, with the Trump administration seeking to raise the rate to 15%. The move comes after the U.S. Supreme Court invalidated previous broad tariffs introduced under emergency powers, prompting officials to reintroduce duties under alternative legal authority. These developments have fueled uncertainty over global trade and inflation, supporting safe-haven demand for gold.
Geopolitical risks also remain elevated, as the United States and Iran prepare for a third round of nuclear negotiations in Geneva. Meanwhile, a slightly weaker U.S. dollar has made gold more attractive to overseas buyers.
Still, expectations of higher-for-longer U.S. interest rates have capped gains. Federal Reserve officials signaled limited urgency to adjust monetary policy, reinforcing pressure on non-yielding assets like gold.
JPMorgan forecasts gold could reach $6,300 per ounce by 2026, driven by strong central bank and investor demand, while raising its long-term projection to $4,500.
Silver surged 4.5% to $91.07 per ounce and platinum jumped 6.7% to $2,333.40. Copper prices also advanced, supported by lower U.S. tariff prospects and renewed Chinese demand, signaling improving sentiment across the broader metals market.
