Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Gold prices climbed sharply in Asian trading on Tuesday, extending a rally that has pushed bullion to a series of record highs. The surge reflects growing investor anxiety over U.S. trade policies under President Donald Trump, escalating geopolitical tensions, and cautious sentiment ahead of a key U.S. Federal Reserve meeting. Together, these factors have strengthened safe-haven demand for gold and other precious metals.
Spot gold rose 1.1% to around $5,062.97 per ounce in early Asian hours, while April gold futures slipped slightly to $5,098.26 per ounce. Despite the marginal pullback in futures, spot gold remained near historic levels after hitting a record high of $5,111.11 per ounce on Monday. The strong performance highlights gold’s role as a hedge during periods of global uncertainty and market volatility.
Other precious metals also posted solid gains. Spot silver jumped nearly 4% to about $107.94 per ounce, after briefly touching a record high above $111 per ounce. Platinum prices climbed 2.7% to roughly $2,656.27 per ounce, reflecting broad-based strength across the metals complex as investors sought alternatives to riskier assets.
Market nerves have been fueled by renewed trade tensions, particularly after President Trump threatened aggressive tariffs against several U.S. allies. These included warnings of 100% tariffs on Canada over potential trade links with China, as well as an increase in tariffs on South Korean goods to 25%. Although Trump eased some rhetoric regarding Europe and Greenland, uncertainty over future policy moves continues to weigh on global markets.
Geopolitical risks have further supported gold prices, with heightened tensions in Iran and the Middle East following the arrival of U.S. naval assets in the region. Analysts note that such risks, combined with economic and political uncertainty, have broadened gold’s appeal across regions and investor profiles, including strong interest from China and India.
Reflecting this backdrop, Singapore-based OCBC raised its 2026 gold price forecast to $5,600 per ounce, citing sustained demand for safe-haven assets. While short-term profit-taking could trigger brief pullbacks, the long-term outlook for gold remains supported by persistent global uncertainty.
