Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
Iraq PM Visits Washington as U.S. Oil, Gas Deals Take Center Stage 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
South Korea Central Bank Set to Raise Interest Rates as Inflation Stays Elevated 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
South Korea’s KOSPI Triggers Trading Curb as AI Chip Stock Selloff Deepens 
Gold prices remained largely unchanged during Asian trading on Thursday as investors awaited a highly anticipated meeting between U.S. President Donald Trump and Chinese President Xi Jinping in Beijing. Market participants are closely watching the summit for developments related to U.S.-China trade relations, the Iran conflict, and ongoing global supply chain disruptions.
Spot gold held steady at $4,691.12 per ounce, while U.S. gold futures slipped 0.2% to $4,697.97. The precious metal had already declined over the previous two sessions as traders adopted a cautious approach ahead of the talks between the world’s two largest economies.
Despite some support from geopolitical tensions in the Middle East, gold prices faced pressure from stronger-than-expected U.S. inflation data and a firmer U.S. dollar. Concerns surrounding disruptions near the Strait of Hormuz, a vital oil shipping route, continued to fuel fears of rising global energy costs and supply shortages.
Recent U.S. economic data showed producer prices rising at their fastest pace since 2022, while consumer inflation also accelerated due to higher energy prices linked to the Iran conflict. The inflation surge strengthened expectations that the Federal Reserve may keep interest rates elevated for a longer period, reducing demand for non-yielding assets such as gold.
Meanwhile, the U.S. Dollar Index hovered near a two-week high, making gold more expensive for international buyers and limiting further gains in bullion prices.
Oil prices staying above $100 per barrel also remained a major concern for financial markets, as investors worried prolonged supply issues in the Gulf region could intensify inflationary pressures worldwide.
In addition, India recently increased import duties on gold and silver to curb overseas purchases and protect foreign exchange reserves. The decision may weaken physical demand in one of the world’s largest gold-consuming countries.
Elsewhere in the precious metals market, silver gained 0.1% to $87.66 per ounce, while platinum rose 0.3% to $2,141.60 per ounce.
