South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
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 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Dollar Eases as Middle East Conflict, Fed Outlook and Japan Pension Policy Drive FX Markets 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Gold prices reversed early gains and moved lower during Asian trading on Thursday, pressured by a strengthening U.S. dollar and reduced demand for safe-haven assets. Investor focus has shifted toward upcoming central bank meetings and key U.S. labor market data, prompting traders to favor the greenback over precious metals.
Spot gold declined 1.1% to $4,912.26 per ounce by 21:17 ET (02:17 GMT), while April gold futures slipped 0.4% to $4,929.25 per ounce. The pullback followed a strong rebound on Wednesday, when spot prices climbed as high as $5,092.31 before falling back below the psychologically important $5,000 level by the end of the session.
One major factor weighing on gold prices was easing geopolitical tension. The United States and Iran confirmed that diplomatic talks are scheduled for Friday, reducing fears of an immediate military escalation in the Middle East. This development cooled safe-haven demand, which had previously supported gold during periods of heightened uncertainty.
A stronger U.S. dollar also contributed to losses in gold and other metals. Currency markets saw increased demand for the greenback ahead of interest rate decisions from the Bank of England and the European Central Bank, both expected later Thursday. Traders are also positioning ahead of the highly anticipated U.S. nonfarm payrolls report due Friday, which could influence expectations around future interest rate policy.
Dollar strength was further supported by political developments in the United States after President Donald Trump nominated Kevin Warsh as the next Federal Reserve chair. Warsh is widely viewed as less dovish, with markets anticipating tighter monetary policy even if interest rates eventually decline.
Other precious metals followed gold lower. Spot silver dropped sharply, falling 6.9% to $82.3130 per ounce after posting a strong rally in the previous session. Despite its strong performance in recent months due to industrial demand, silver has faced increased volatility amid profit-taking and dollar gains. Spot platinum fell 3% to $2,167.59 per ounce, while benchmark copper futures on the London Metal Exchange eased 0.6% to $12,986 per tonne.
Overall, precious metal prices remain sensitive to currency movements, central bank signals, and global economic data, keeping investors cautious in the near term.
