South Korea Central Bank Set to Raise Interest Rates as Inflation Stays Elevated 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
Gold and silver prices climbed on Friday, closing out an exceptionally volatile week in the precious metals market following a historic selloff. The turbulence was sparked by the nomination of former Federal Reserve Governor Kevin Warsh as the next U.S. central bank chief, a move that strengthened the U.S. dollar and led to a rapid unwinding of long-held precious metals positions.
By Friday afternoon, spot gold prices had surged 3.7% to $4,957.47 per ounce, while April gold futures rose 1.9% to $4,980.16 per ounce. Spot silver saw even stronger gains, jumping 7.9% to $76.6275 per ounce, although silver futures edged slightly lower by 0.5% to $76.397 per ounce. The rebound capped a week marked by extreme price swings and heavy losses for traders.
Throughout the week, gold prices fluctuated sharply, ranging from a low of $4,404.12 per ounce to a high of $5,092.68 per ounce. After failing to hold above the $5,000 level on Thursday, gold resumed its upward momentum during early Asian trading on Friday and continued higher. Market analysts suggested that the sharp rebound reflected positioning adjustments rather than fundamental macroeconomic changes, noting that ample Chinese liquidity and a relatively stable dollar continue to support gold prices despite elevated volatility.
Geopolitical factors also played a role in gold’s recovery, as heightened tensions between the United States and Iran earlier in the week boosted safe-haven demand. Reports that talks between the two countries in Oman had begun on a positive note added another layer of market sensitivity.
Silver prices experienced even more dramatic moves. After suffering one of its worst single-day declines in decades following Warsh’s nomination, silver rebounded nearly 11% midweek before plunging about 19% on Thursday. Despite Friday’s stabilization, spot silver remained down roughly 10% for the week and more than one-third below its late-January peak, with reduced liquidity and softer Chinese demand amplifying price swings.
Other precious metals also posted gains, with spot platinum rising 1.3% to $2,098.00 per ounce, underscoring the continued volatility and opportunity within the broader precious metals market.
