Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
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 
Gold Prices Head for Biggest Weekly Loss Since June as Fed Rate Outlook Weighs 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Gold prices remained largely unchanged in Asian trade on Friday, poised for a third consecutive weekly decline as a stronger U.S. dollar outweighed safe-haven demand driven by escalating trade tensions.
Spot gold edged up 0.2% to $3,396.25 an ounce, while gold futures held steady at $3,348.10 per ounce by 01:58 ET (05:58 GMT). The U.S. Dollar Index climbed to its highest in over two months and is on track for its best weekly performance in nearly three years, following the Federal Reserve’s decision to keep interest rates unchanged. A firmer dollar typically makes gold more expensive for international buyers, reducing demand.
Investor sentiment was further pressured by renewed trade uncertainty after President Donald Trump signed an executive order introducing steep “reciprocal tariffs” on imports from more than a dozen countries. The new tariffs, effective August 1, range from 15% on South Korean goods to 25% on Indian exports. Additionally, Trump raised tariffs on Canadian goods to 35% from 25%, citing Canada’s insufficient action on fentanyl shipments.
While heightened trade tensions usually support safe-haven assets like gold, the dollar’s rally capped potential gains.
In other precious metals, platinum futures rose 0.4% to $1,298.35 per ounce, while silver futures dipped 0.1% to $36.68. On the industrial metals front, benchmark copper futures on the London Metal Exchange gained 0.5% to $9,655.95 a ton, though U.S. copper futures eased 0.2% to $4.423 a pound after plunging 19% earlier in the week when refined copper was excluded from planned tariffs. Starting August 1, a 50% tariff will apply to semi-finished copper products but not to ores, concentrates, or cathodes.
