Malaysia Q2 Economy Grows 5.8%, Beating Forecasts on Strong Tech Exports and Domestic Demand 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
Oil Prices Set for Weekly Surge as U.S.-Iran Conflict Fuels Supply Fears 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Nikkei Plunges 5% as AI Stock Selloff Spreads Across Asia 
Japan Core Inflation Seen Rising in June, Strengthening BOJ Rate Hike Outlook 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
US Stock Futures Fall as Netflix Outlook, Chip Selloff and Iran Tensions Weigh on Markets 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
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 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Gold prices fell to a three-week low in Asian trading on Monday as investors sold off assets to cover broader market losses triggered by escalating global trade tensions and rising fears of a recession. Spot gold dropped 0.5% to $3,023.10 per ounce by 02:12 ET (06:12 GMT), its lowest level since March 13. Despite hitting record highs last week, the precious metal retreated following U.S. President Donald Trump's aggressive new tariff policy.
Trump announced a blanket 10% tariff on all imports, with specific duties reaching up to 49% on goods from China and the European Union. In response, China imposed a 34% tariff on U.S. imports, while the EU signaled plans for a coordinated response. These developments rattled global markets, raising concerns about a sharp slowdown in global economic growth.
Major banks revised their recession forecasts, with Goldman Sachs raising its 2025 U.S. recession probability to 45%, up from 35%, and JPMorgan increasing its global recession risk for this year to 60%, from a prior 40%.
Although gold is traditionally considered a safe-haven asset, analysts from ING noted that investors liquidated gold positions along with other assets to cover losses elsewhere. Still, the decline in gold was less severe than in other markets, partly due to weakness in the U.S. dollar and growing expectations of Federal Reserve rate cuts.
The U.S. Dollar Index slipped 0.5% in Asian trading, supporting other metals. Silver futures surged 2% to $29.805 an ounce, while platinum held steady at $914.35. Copper prices also rose, with London futures climbing 1.1% to $8,846.50 a ton, though trade war concerns kept gains in check.
