South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Dollar Eases as Middle East Conflict, Fed Outlook and Japan Pension Policy Drive FX Markets 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
South Korea’s KOSPI Triggers Trading Curb as AI Chip Stock Selloff Deepens 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
Asian Currencies Weaken as Stronger Dollar Weighs, Yen Supported by GPIF Repatriation Hopes 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
South Korea Central Bank Set to Raise Interest Rates as Inflation Stays Elevated 
Dollar Rises as Middle East Conflict Fuels Inflation and Rate Hike Fears 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Gold Prices Fall as US-Iran Conflict, Rising Oil Prices Fuel Fed Rate Concerns 
Gold prices climbed on Friday and were set for a strong weekly gain as the U.S. dollar weakened following the latest U.S. jobs report. Investors also turned to safe-haven assets amid ongoing tensions in the Middle East and uncertainty surrounding the Strait of Hormuz.
Spot gold increased 0.7% to $4,717.91 per ounce, while gold futures gained 0.4% to $4,727.11 per ounce. The precious metal has now risen more than 2% this week after recovering from one-month lows recorded earlier in May.
Market sentiment improved after U.S. President Donald Trump stated that the ceasefire between the United States and Iran remained active despite recent military clashes near the Strait of Hormuz. The strategically important waterway, which handles nearly 20% of global oil and gas shipments, has faced severe disruptions since tensions escalated earlier this year.
The U.S. military confirmed that it disabled several Iranian-flagged oil tankers attempting to enter Iranian ports in the Gulf of Oman. Reports also indicated that American forces responded to attacks on U.S. warships in the region with strikes near Iran’s Bandar Abbas and Qeshm port areas.
Meanwhile, investors closely monitored the latest U.S. labor market data. The Bureau of Labor Statistics reported that nonfarm payrolls rose by 115,000 in April, surpassing expectations of 65,000. The unemployment rate remained unchanged at 4.3%.
Despite the stronger-than-expected jobs report, traders reduced expectations for additional Federal Reserve interest rate hikes this year. The softer outlook for rates pressured the U.S. dollar lower, making gold more attractive to international buyers.
Other precious metals also moved higher, with silver surging 2.5% to $80.41 per ounce and platinum rising 0.2% to $2,065.70 per ounce.
