South Korea Stocks Tumble as AI-Fueled Rally Faces Profit-Taking Pressure 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Australia Inflation Cools in May, But Core CPI Keeps RBA Rate Hike Risks Alive 
Wall Street Ends Mixed as Tech Stocks Struggle Ahead of Micron Earnings 
Asian Stocks Slip as Oil Rebounds Amid Fed Rate Hike Fears 
Asian Stocks Slide as AI Rally Pauses, South Korean Chipmakers Lead Regional Decline 
U.S.-Iran Diplomacy Helps Drive Gasoline Prices Down 15% From May Highs 
Wall Street Slides as AI Stocks Tumble Following South Korea Tech Sell-Off 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
South Korea’s KOSPI Rebounds as Samsung and SK Hynix Lead Tech Stock Recovery 
US Dollar Climbs to One-Year High as Fed Rate Hike Expectations Surge 
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.
