Gold Price Hits Seven-Week High as Fed Rate Hike Bets Fade and Hormuz Deal Hopes Grow 
Oil Prices Slip as Hormuz Shipping Progress and Rising U.S. Crude Stocks Weigh on Market 
Asian Currencies Hold Steady as US Dollar Nears Seven-Week Low Ahead of Key Jobs Data 
China Exports Beat July Forecasts as AI Demand Fuels High-Tech Trade 
US Job Growth Seen Picking Up in July 
Brazil Cuts Selic Rate to 14% as Inflation Eases but Risks Persist 
US Yen Intervention Unlikely to Deliver Lasting Recovery, Yardeni Says 
Asian Currencies Steady as Markets Await U.S. Jobs Data 
Trump Unveils $3 Billion U.S. Critical Minerals Push 
Philippine GDP Growth Slows to 2.3% in Q2 
US Stock Futures Rise as Markets Await July Payrolls Data 
Dollar Holds Near Six-Week Low as Yen Loses Momentum Ahead of U.S. Jobs Data 
Asian Stocks Cautious Ahead of US Jobs Data as Oil Rises 
Asian Stocks Slide as Semiconductor Selloff Weighs on South Korea and Japan 
Canada, US Hold Constructive Trade Talks as Tariff Negotiations Continue 
US Dollar Gains as Iran Tensions, Fed Rate Hike Bets Rise 
Singapore Says One-Third of U.S. Exports Hit by New 12.5% Tariff 
Gold prices climbed during Asian trading on Wednesday as a softer U.S. dollar and declining oil prices supported investor demand for the precious metal. Market sentiment improved after signs of easing tensions in the Middle East reduced immediate concerns over rising inflation and supply disruptions.
Spot gold increased 1.8% to $4,637.14 per ounce, while U.S. Gold Futures for June delivery gained 1.7% to $4,647.31. The precious metal had already posted nearly a 1% gain in the previous trading session, continuing its upward momentum in global commodity markets.
Investor focus shifted after U.S. President Donald Trump announced that Washington would temporarily halt operations aimed at restoring commercial shipping through the Strait of Hormuz. Trump also indicated that a potential agreement with Iran could be reached soon, signaling a move toward diplomacy after days of heightened geopolitical tensions.
Earlier this week, fears of conflict escalation intensified after the launch of the “Project Freedom” initiative, which aimed to secure maritime routes through the Strait of Hormuz. Iran’s military response pushed oil prices sharply higher, raising concerns about global inflation and possible prolonged supply disruptions.
However, oil prices fell during Asian trading following Trump’s latest comments, easing inflation worries and helping support gold prices. Lower crude oil prices reduced expectations that central banks, particularly the U.S. Federal Reserve, would need to maintain higher interest rates for an extended period. Since gold is a non-yielding asset, lower interest rate expectations typically strengthen demand for bullion.
The weaker U.S. dollar also contributed to gold’s gains, making the metal more affordable for international buyers. The U.S. Dollar Index (DXY) slipped 0.2% during early Asian trading hours.
Other precious metals also advanced, with silver prices surging 3% to $75.08 per ounce, while platinum rose 1.7% to $1,990.72 per ounce.
