Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
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 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
Gold prices surged to a historic high above $5,200 per ounce on Wednesday, driven by strong safe-haven demand and persistent weakness in the U.S. dollar, boosting broader precious metals markets. Heightened geopolitical tensions and uncertainty surrounding U.S. economic policy have fueled investor appetite for gold, reinforcing its status as a hedge during periods of instability.
Spot gold briefly touched a record peak of $5,202.06 per ounce before easing slightly to $5,179.41 per ounce by 19:55 ET (00:55 GMT). Meanwhile, April gold futures climbed sharply, rising 1.8% to settle at $5,215.46 per ounce. The rally reflects sustained demand for safe-haven assets as global markets react to escalating political risks and macroeconomic uncertainty.
Safe-haven demand intensified after U.S. President Donald Trump stated that a second naval armada was heading toward Iran, while expressing hope that Tehran would agree to a diplomatic deal with Washington. This development added to a series of geopolitical flashpoints that have supported gold prices throughout the year, including U.S. actions in Venezuela and renewed tensions over Greenland.
In addition to geopolitical concerns, weakness in the U.S. dollar has played a critical role in pushing gold prices higher. The dollar slid to multi-year lows this week amid worries about expansive fiscal spending and growing concerns over the Federal Reserve’s independence. Trump’s ongoing criticism of the Fed, along with comments suggesting interest rates would fall under new leadership after Jerome Powell, has further pressured the greenback and strengthened demand for gold.
Other precious metals also benefited from the bullish sentiment. Spot silver rose 1.2% to $113.4325 per ounce, while spot platinum gained 0.6% to $2,669.61 per ounce. Both metals remained close to their respective record highs, supported by strong investor interest and favorable market conditions.
Overall, uncertainty over U.S. policy, geopolitical risks, and dollar weakness continue to underpin gold prices, positioning the metal for sustained strength as investors seek stability in volatile markets.
