South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Japan Core Inflation Seen Rising in June, Strengthening BOJ Rate Hike Outlook 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Malaysia Q2 Economy Grows 5.8%, Beating Forecasts on Strong Tech Exports and Domestic Demand 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Brazil Weighs IP Curbs, Patent Suspensions After New U.S. Tariffs 
Gold prices climbed in Asian trading on Wednesday as geopolitical tensions and a softer U.S. dollar spurred demand for safe-haven assets. Spot gold rose 0.4% to $3,302.02 per ounce, while June gold futures gained 0.6% to $3,303.62.
The uptick followed a CNN report that Israel is preparing for a potential strike on Iran’s nuclear facilities, citing unnamed U.S. officials. While no final decision has been made, observed military movements suggest active planning. A strike would likely escalate Middle East tensions, drawing sharp retaliation from Iran and disrupting global markets. This heightened geopolitical risk boosted inflows into traditional safe havens like gold and the Japanese yen.
Gold also benefited from ongoing concerns about U.S. fiscal stability. Moody’s recently downgraded the U.S. sovereign credit rating, citing growing debt and excessive government spending. Additionally, uncertainty around U.S. trade negotiations and hawkish comments from Federal Reserve officials pressured the U.S. dollar, further supporting gold and other dollar-priced commodities.
Despite the Fed’s stance against near-term rate cuts, economic headwinds and geopolitical instability have helped gold stay above the $3,000 mark. The metal now trades less than $200 below its all-time high set earlier this month.
Other precious metals showed mixed performance. Platinum futures dipped 1% to $1,050.50 per ounce, while silver futures edged up 0.2% to $33.255. Industrial metals also saw gains, with London copper futures rising 0.4% to $9,559.25 per ton and U.S. copper futures climbing 0.4% to $4.6928 per pound.
The combination of geopolitical stress, dollar weakness, and cautious economic outlook continues to support bullish sentiment in the gold market. Investors remain watchful for further developments in the Middle East and U.S. fiscal policy.
