US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
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 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
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 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Gold prices soared in Asian trading on Monday, climbing back above the key $4,000 an ounce mark as the U.S. dollar weakened and investor attention turned to Congress’ progress toward ending the prolonged government shutdown. The precious metal also gained support from market optimism that the Federal Reserve could cut interest rates in December, despite ongoing uncertainty over the broader U.S. economic outlook.
Spot gold surged 1.4% to $4,053.72 per ounce, while December gold futures rose 1.3% to $4,062.45 by 23:43 ET (04:43 GMT). The rally reflected renewed investor demand for safe-haven assets amid political tensions and softening economic indicators.
The dollar’s mild decline provided further momentum to metal prices. A softer greenback typically boosts gold and other commodities by making them cheaper for foreign investors. Market sentiment was reinforced by expectations of a potential 25-basis-point rate cut from the Fed in December, supported by recent weak labor market data. According to CME FedWatch, traders priced in a 61.9% probability of such a move.
Recent Challenger job cuts data revealed the worst wave of layoffs in nearly two decades during October, intensifying fears of an economic slowdown. Analysts believe the Fed could step in to stabilize the job market and sustain growth.
Other precious metals also advanced on Monday. Spot platinum climbed 1.4% to $1,571.92 per ounce, while spot silver jumped 1.8% to $49.21 per ounce.
Meanwhile, investor sentiment brightened as the U.S. Senate voted 60-40 to advance a funding bill aimed at ending the nation’s longest government shutdown. The bill’s progress broke a Democratic filibuster and could soon reopen federal operations, paving the way for delayed economic data releases that may further influence Fed policy decisions.
