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Global Markets Steady as Yen Holds Firm After Japan Earthquake Amid Central Bank Focus 
Global Forex Markets Brace for Fed Decision as Yen Extends Weakness 
Australian Dollar Rises as RBA Holds Rates and Signals Persistent Inflation Risks 
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Oil Prices Hold Steady as Markets Track Ukraine Peace Talks and U.S. Rate Decision 
U.S. Open to Special Trade Terms for South Africa Under Possible AGOA Extension 
Holiday Economic Questions: What Bank of America Says You Should Expect 
Canada Stocks Steady as Markets Await Fed and BoC Decisions 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Global Currencies Steady Ahead of Key Central Bank Decisions 
Gold prices declined in Asian trading on Friday, with spot gold dropping 0.8% to $3,214.90 per ounce and June futures down 0.3% to $3,217.65. The precious metal is on track for its steepest weekly loss since November 2024, falling about 3.2% as easing tensions between the U.S. and China reduced demand for safe-haven assets.
The recent agreement between Washington and Beijing to temporarily lower trade tariffs boosted global risk appetite, prompting a rally in equities and risk-driven assets. This shift in sentiment led traders to lock in profits from gold’s recent record highs. Additionally, strength in the U.S. dollar and rising Treasury yields applied further downward pressure on gold prices.
Despite the decline, gold remains above the key $3,000/oz level. Market participants are cautiously awaiting a more definitive trade resolution between the U.S. and China, while soft U.S. economic data continues to cloud the growth outlook.
Other precious metals also faced losses. Platinum futures fell 0.5% to $989.90/oz, and silver futures slipped 0.3% to $32.593/oz, both set for weekly declines alongside gold.
In the industrial metals segment, copper prices edged lower on Friday. London Metal Exchange copper dipped 0.2% to $9,567.30 per ton, and U.S. copper futures also lost 0.2% to $4.6695 per pound. Despite the dip, copper held onto weekly gains driven by optimism over China’s economic prospects.
Traders now look ahead to key Chinese economic indicators, including industrial production and retail sales data due Monday, followed by the People’s Bank of China’s loan prime rate decision on Tuesday, which could signal further stimulus measures.
