Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
Iraq PM Visits Washington as U.S. Oil, Gas Deals Take Center Stage 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Asian Currencies Weaken as Stronger Dollar Weighs, Yen Supported by GPIF Repatriation Hopes 
Dollar Eases as Middle East Conflict, Fed Outlook and Japan Pension Policy Drive FX Markets 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Gold Prices Fall as US-Iran Conflict, Rising Oil Prices Fuel Fed Rate Concerns 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Gold prices climbed sharply on Wednesday, nearing a three-week high after President Donald Trump announced a temporary ceasefire with Iran, easing geopolitical tensions that had been gripping global markets. Spot gold gained 1.6%, trading at $4,778.95 per ounce as of 05:46 ET, after touching its strongest level since March 19. June gold futures advanced even further, rising 2.6% to $4,807.34 per ounce.
The ceasefire came after Pakistan brokered last-minute diplomatic negotiations. Trump announced via social media that military operations against Iran would be paused for two weeks, stating that the U.S. had already met its primary military objectives. The temporary truce is tied to Iran guaranteeing the safe reopening of the Strait of Hormuz, a critical global shipping lane responsible for approximately 20% of worldwide oil flows. Iran indicated a conditional willingness to allow safe passage through the strait, provided hostilities ceased and vessels coordinated with Iranian maritime authorities.
Financial markets responded quickly to the news. Oil prices tumbled more than 15% as supply disruption fears faded, while risk assets rallied broadly. The U.S. dollar index weakened, making gold more affordable for international buyers and adding further upward momentum to bullion prices.
Gold had previously faced headwinds last month when surging oil prices ignited inflation concerns, leading investors to anticipate that the Federal Reserve might keep interest rates elevated for a prolonged period. Since gold typically underperforms in high-rate environments, rising energy costs had temporarily weighed on the precious metal's appeal.
Investors are now watching closely for Friday's U.S. Consumer Price Index report for March, which is expected to shed light on how higher fuel costs have filtered into broader inflation. Economists anticipate headline inflation accelerated monthly, a development that could further complicate the Federal Reserve's monetary policy path going forward.
