US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
JPMorgan Sees ECB Raising Rates to 2.75% in December 
China to Inject $45 Billion Into State Financial Institutions 
Yen Rebounds as BOJ Rate Hike Bets Rise 
UK House Prices Fall for First Time Since 2023 
Singapore Straits Times Index Hits Record High as Banks, Property Stocks Rally 
Turkey Targets 5% Economic Growth by 2029 
Gold Prices Hold Near $4,500 as Fed Rate Hike Bets Ease 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
US Oil Blockade Deepens Iran’s Economic Crisis 
Hong Kong Eyes Offshore Yuan Expansion, Deeper China Market Links 
Asian Stocks Rally as Fed Rate Hike Fears Ease 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
Japan, US Target AI and Chips in $550 Billion Investment Push 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
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Gold prices declined during Asian trading on Monday after recording solid gains last week, as rising oil prices and a stronger U.S. dollar reduced investor demand for the precious metal. Market sentiment shifted after U.S. President Donald Trump rejected Iran’s latest response to a proposed peace agreement, raising concerns over prolonged geopolitical tensions in the Middle East.
Spot gold fell 0.8% to $4,677.82 per ounce, while U.S. gold futures dropped 0.8% to $4,694.34 in early trading. Despite the decline, gold had gained more than 2% last week amid hopes that a potential U.S.-Iran deal could ease tensions and stabilize global energy markets.
Investor confidence weakened after Trump reportedly described Tehran’s latest proposal as “totally unacceptable,” signaling a possible deadlock in negotiations. Iran’s counteroffer allegedly sought sanctions relief, security assurances, and recognition of parts of its nuclear program, while Washington continued to demand stricter limits on uranium enrichment and expanded international oversight.
At the same time, oil prices surged sharply. Brent crude climbed over 3% to trade above $104 per barrel, while U.S. West Texas Intermediate crude approached $99. Higher oil prices increased fears that global inflation could remain elevated, potentially forcing central banks, including the Federal Reserve, to maintain higher interest rates for longer periods.
The stronger U.S. dollar also pressured gold prices. The U.S. Dollar Index rose 0.1% in Asian trading after stronger-than-expected U.S. payroll data reinforced expectations that the Federal Reserve may delay interest rate cuts. A firmer dollar typically makes gold more expensive for foreign buyers, reducing overall demand.
Investors are now closely watching upcoming U.S. inflation reports and Trump’s scheduled visit to China later this week. Discussions with Chinese President Xi Jinping are expected to focus on Iran, trade relations, and global energy security.
Other precious metals also moved lower, with silver falling 0.7% to $79.76 per ounce and platinum dropping 1.3% to $2,031.60 per ounce.
