Asian Currencies Rise as Yen Surges on Fed Rate Outlook 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
Uranium Prices Could Top $100 as Nuclear Demand Grows 
Gold Prices Hold Near $4,500 as Fed Rate Hike Bets Ease 
Asian Stocks Rally as Fed Rate Hike Fears Ease 
Japan, US Target AI and Chips in $550 Billion Investment Push 
JPMorgan Sees ECB Raising Rates to 2.75% in December 
Chinese AI Stocks Rally After OpenAI Launches GPT-6 Astra 
Iran’s Hormuz Oil Pressure Fades as Gulf Crude Flows Continue 
ECB Set for September Rate Hike as Energy Prices Fuel Inflation 
Singapore Straits Times Index Hits Record High as Banks, Property Stocks Rally 
Oil Prices Rise as Hormuz Tensions Threaten Supply 
OPEC+ Expected to Hold October Oil Output Steady 
Hong Kong Eyes Offshore Yuan Expansion, Deeper China Market Links 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
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Gold prices edged lower during early Asian trading on Friday, with investors remaining cautious amid ongoing uncertainty surrounding the Iran conflict and the potential impact on U.S. interest rates. The precious metal was also on track for a subdued weekly performance as traders balanced geopolitical risks with growing expectations of tighter monetary policy from the Federal Reserve.
Spot gold declined 0.2% to $4,532.95 per ounce, while gold futures also slipped 0.2% to $4,533.90 per ounce. Despite recent volatility, spot gold was set to post a weekly loss of around 0.2%, reflecting mixed market sentiment driven by developments in U.S.-Iran relations.
Investor optimism briefly improved after U.S. President Donald Trump delayed a potential military strike against Iran. Reports suggesting that a final draft of a peace agreement had been prepared also helped calm market fears. However, uncertainty quickly returned after Trump warned that military action could still occur if Tehran failed to reach an agreement regarding its nuclear program.
Tensions in the Middle East continued to support elevated oil prices, especially as concerns grew over limited oil flows through the Strait of Hormuz. U.S. officials criticized Iran’s proposal to impose transit fees through the critical shipping route, raising fresh concerns about global energy supply disruptions and rising inflation pressures.
Higher oil prices have already contributed to stronger U.S. inflation data over the past two months. This has fueled speculation that the Federal Reserve could raise interest rates later this year, a development that typically pressures non-yielding assets such as gold.
Minutes from the Fed’s late-April meeting revealed that several policymakers were increasingly open to additional rate hikes if inflation remains elevated. The prospect of higher borrowing costs has limited upside momentum in the gold market.
Other precious metals also traded lower on Friday. Spot platinum fell 0.2% to $1,967.98 per ounce, while spot silver slipped 0.2% to $76.5145 per ounce.
