Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
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 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
Brazil Weighs IP Curbs, Patent Suspensions After New U.S. Tariffs 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Nikkei Plunges 5% as AI Stock Selloff Spreads Across Asia 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Gold prices dipped slightly on Monday, pulling back from record highs as global risk sentiment improved following partial tariff exemptions from the U.S. However, safe haven demand remained strong amid ongoing U.S.-China trade tensions and recession concerns. Spot gold edged down 0.3% to $3,225.79 per ounce, while June gold futures slipped 0.1% to $3,240.87. Despite the pullback, spot prices stayed close to last week’s record high of $3,245.69.
Markets welcomed news that some electronic goods would be excluded from President Donald Trump’s aggressive 145% tariffs on Chinese imports, boosting Asian stocks and U.S. futures. Major importers like Apple (NASDAQ:AAPL) were seen benefiting. Still, Trump warned that electronics may soon face a 20% levy under separate measures, keeping investors cautious. China responded with 125% retaliatory tariffs and has begun seeking new trade partnerships, further escalating tensions.
Ongoing fears of disrupted supply chains and a potential U.S. recession—now priced at a 50% chance by traders—continue to support gold prices. A weaker dollar and falling Treasury yields also added to gold’s appeal as a hedge.
In metals trading, platinum futures rose 0.8% to $951.90/oz, while silver futures fell 0.3% to $31.827/oz. Copper on the London Metal Exchange held steady at $9,152.90 per ton.
Goldman Sachs (NYSE:GS) raised its 2025 gold price target to $3,700 per ounce, citing intensifying demand for safe haven assets amid economic uncertainty. The bank noted that in a severe scenario, gold could spike to $4,500 by year-end 2025, reinforcing bullion’s role as a recession hedge.
