UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
US Stock Futures Fall as Netflix Outlook, Chip Selloff and Iran Tensions Weigh on Markets 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
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 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Gold prices edged lower in Asian trading on Thursday as risk appetite slightly improved following U.S. President Donald Trump’s comments that it was “highly unlikely” he would fire Federal Reserve Chair Jerome Powell. The reassurance tempered some market fears, reducing safe-haven demand and lifting U.S. equities.
Spot gold dipped 0.2% to $3,342.09 per ounce, while September gold futures fell 0.3% to $3,348.40. Despite the pullback, underlying demand for gold remained supported by persistent uncertainty surrounding Trump’s upcoming tariff plans, which are expected to be enacted in just over two weeks.
Broader precious metals also showed resilience. Platinum inched up to $1,424.55 per ounce, holding above the key $1,400 level, which analysts at ANZ said could indicate further strength. Spot silver gained 0.2% to $37.9945 per ounce. Copper prices were mixed, with LME benchmark futures steady at $9,629.75 per ton and COMEX copper rising slightly to $5.5267 per pound.
The U.S. dollar remained firm near a three-week high, buoyed by sticky inflation data that dampened expectations for near-term rate cuts. Both consumer and producer price indices for June came in hotter than anticipated, reinforcing bets that the Fed will hold interest rates steady at its next meeting. Upcoming U.S. retail sales and jobless claims data are expected to offer further clues on the economic outlook.
Trump’s ongoing criticism of Powell has fueled market anxiety, but his latest comments eased concerns slightly. Still, Trump warned that firing Powell could still be on the table if fraud is found in the Fed’s renovation project. Meanwhile, the Fed has signaled a cautious approach, awaiting further clarity on inflation impacts from Trump’s trade measures.
