Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Gold Prices Fall as US-Iran Conflict, Rising Oil Prices Fuel Fed Rate Concerns 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
Dollar Rises as Middle East Conflict Fuels Inflation and Rate Hike Fears 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Iraq PM Visits Washington as U.S. Oil, Gas Deals Take Center Stage 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Gold prices climbed on Friday, positioning the precious metal for a weekly gain as investors retreated from riskier assets and sought refuge in safe haven investments like bullion and the U.S. dollar. The move came amid ongoing uncertainty surrounding U.S.-Iran peace negotiations and intensifying conflict in the Middle East.
Spot gold rose 2.6% to settle at $4,492.74 per ounce, while gold futures gained 2.5%, closing at $4,520.40 per ounce. For the week, spot gold was on pace for a 0.4% gain — a modest recovery following its steepest weekly decline in over four decades.
Despite the rebound, gold has struggled to fully reclaim its traditional safe haven status throughout the current Middle East crisis. A stronger U.S. dollar and persistent expectations of elevated interest rates — driven by inflationary pressure from rising oil prices — have continued to weigh on bullion's performance.
Joseph Cavatoni, senior market strategist at the World Gold Council, noted that the price recovery reflects how sensitive gold markets are to shifting macroeconomic signals. He emphasized that rate expectations and currency movements are currently exerting more immediate influence on gold than geopolitical risk alone. Nevertheless, Cavatoni maintained that gold's long-term fundamentals remain solid, supported by continued central bank demand, elevated global debt levels, and persistent economic uncertainty. He described recent price fluctuations as short-term recalibration rather than a structural breakdown in the broader gold rally.
Spot gold remains roughly 15% below its level at the start of the Iran conflict in late February and approximately 20% off the record highs reached in January.
Friday's session was further unsettled by geopolitical developments, including President Trump's extension of a deadline for Iran to reopen the Strait of Hormuz. Iranian officials confirmed that Israel struck several industrial and civilian energy sites, complicating diplomatic efforts and keeping investor sentiment fragile.
