Dollar Hovers Near Multi-Month Lows as Treasury Buybacks Rattle Markets 
Asian Currencies Steady as Dollar Hovers Near Multi-Month Lows 
ING Says Yen Is 20% Undervalued Against Dollar 
Wall Street Ends Higher as Crypto Stocks and Materials Rally 
US Dollar Heads for Worst Week Since July as Fiscal Concerns Mount 
Canada Announces Dollar-for-Dollar Retaliation Against 50% U.S. Tariffs 
South Korea Producer Prices Fall 0.4% in July 
Oil Prices Ease as US-Iran Tensions Keep Brent on Track for Weekly Gain 
Asian Stocks Rise as Korea Tech Shares Rebound 
Oil Prices Retreat as Markets Await Tougher Iran Sanctions 
US Plans ‘Toughest Sanctions in History’ on Iran, Bessent Says 
Peru Economy Grows 2.6% in Q2 as Private Investment Surges 
Europe EV Sales Surge as High Fuel Prices Drive Demand 
Iran Allows Iraqi Oil Tankers Through Strait of Hormuz 
UK Economy Shows Strength as Burnham Gets Early Boost 
China opens new Arctic trade route – but obstacles will prevent its wider use 
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Gold prices surged in Asian trading Thursday, driven by growing safe-haven demand amid rising Middle East tensions and uncertainty over U.S. trade policy. Spot gold climbed 0.6% to $3,374.94 per ounce, while August futures jumped 1.5% to $3,394.60.
Geopolitical concerns intensified after reports indicated Israel was preparing for potential military action against Iran if nuclear negotiations with the U.S. falter. U.S. President Donald Trump confirmed the evacuation of personnel from Iraq and nearby regions, heightening fears of conflict. Iran responded with threats to target U.S. bases if provoked, deepening investor anxiety. These developments fueled strong demand for gold and other precious metals, traditionally viewed as safe-haven assets.
Uncertainty surrounding U.S.-China trade talks further boosted gold’s appeal. Despite some progress being reported, a lack of concrete details kept investors on edge. Trump's announcement that he will soon send letters outlining tariff plans to key global partners—dimming hopes for broader trade agreements—also rattled markets. Currently, only a finalized deal with the UK and a framework with China have been disclosed.
A weakening dollar supported gains across metals. Platinum futures rose 0.8% to $1,251.65, a four-year high, while silver gained 0.7% to $36.515, hovering near a 13-year peak. Copper also advanced, with London futures up 0.5% to $9,699.70 per ton and U.S. copper up 0.4% to $4.8242 per pound.
However, Goldman Sachs warned platinum’s rally might be short-lived, projecting a retreat into the $800–$1,150 range due to weaker Chinese demand, declining automotive usage amid EV growth, and rising output from South Africa. Despite a 37.3% year-to-date gain, platinum's sustainability remains in question as market fundamentals shift.
