Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Iraq PM Visits Washington as U.S. Oil, Gas Deals Take Center Stage 
Gold Prices Fall as US-Iran Conflict, Rising Oil Prices Fuel Fed Rate Concerns 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Dollar Rises as Middle East Conflict Fuels Inflation and Rate Hike Fears 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
Gold prices jumped more than 2% during Asian trading on Monday as investors flocked to safe-haven assets following major U.S. and Israeli airstrikes on Iran. The attacks reportedly killed Iran’s Supreme Leader, Ayatollah Ali Khamenei, dramatically escalating tensions in the Middle East and rattling global financial markets.
Spot gold climbed 2.1% to $5,387.55 per ounce by 18:56 ET (23:56 GMT), marking its highest level since late January. U.S. gold futures advanced 2.8% to $5,394.91. The sharp rally reflects growing investor anxiety over geopolitical risks and potential disruptions to global oil supplies, particularly through the Strait of Hormuz, a vital energy shipping route.
The latest escalation saw Israeli forces launch fresh strikes on Tehran, targeting military command centers and air defense systems. In response, Iran reportedly fired missiles toward Israeli territory and U.S. military bases in the Gulf region. This intensifying conflict triggered a broad risk-off sentiment across global markets, pressuring equities while pushing crude oil prices higher and strengthening demand for bullion as a store of value.
Market analysts suggest that gold could test key resistance levels at $5,400 per ounce, followed by the late-January record high of $5,595. Some forecasts even point to a potential move toward $6,000 per ounce by year-end if geopolitical tensions persist and safe-haven flows accelerate.
Gold prices have surged nearly 25% year-to-date, supported by ongoing geopolitical uncertainty, strong central bank gold purchases, robust retail demand, and expectations of Federal Reserve interest rate cuts.
Other precious metals also posted gains. Silver rose 1.3% to $95.15 per ounce, while platinum edged up 0.3% to $2,396.11 per ounce, reflecting broader strength across the commodities market amid heightened global instability.
