Gold Price Today: Gold Set for First Monthly Gain Since February Despite Friday Dip 
Fed Holds Interest Rates Steady as Kevin Warsh Says Rising Treasury Yields Tighten Financial Conditions 
US Dollar Slips Ahead of Fed Decision as Oil Prices Ease Inflation Fears 
South Korea’s KOSPI Soars as Samsung, SK Hynix Rebound on Microsoft-Fueled AI Rally 
US Stocks Slide as Fed Holds Rates, AI Chip Selloff Deepens and Oil Prices Surge 
Japan Yen Surges on Reported FX Intervention as Dollar Slides After Fed, BoE Holds Rates 
Trump-Backed Russia Sanctions Bill Faces House Hurdles Over Tariff Powers 
Gold Prices Fall 1% Ahead of Fed Decision as Markets Watch Warsh, Iran Talks 
Asian Stocks Tumble as Tech Selloff Deepens Ahead of Fed Decision, Big Tech Earnings 
Oil Prices Jump as Trump Vows Response to Iran Attack, Supply Risks Return 
China PMI Contracts in July as Weak Demand and Typhoons Weigh on Economy 
China PMI Falls Into Contraction as Manufacturing, Services Weaken in July 
Gold Price Holds Near $4,025 Ahead of Fed Decision as Middle East Tensions Lift Oil 
Asian Currencies Hold Steady After Fed Decision as Dollar Finds Support 
US Stock Futures Rise as AI Optimism Lifts Nvidia, Microsoft, Amazon While Apple Slips 
Australia Inflation Cools as Core CPI Misses Forecasts, Easing RBA Rate Hike Pressure 
Oman Proposes Strait of Hormuz Plan as U.S., Iran Remain Divided Over Shipping Fees 
Oil prices climbed on Friday and remained on track for a monthly gain of more than 20%, supported by ongoing Middle East geopolitical tensions, tighter fuel supplies, and a sharp decline in U.S. crude inventories.
Brent crude futures rose 1.6% to $90.46 per barrel, while U.S. West Texas Intermediate (WTI) crude gained 2.1% to $85.37 per barrel. Despite being set for weekly losses after early optimism over potential peace talks, both benchmarks are poised to post their strongest monthly performance in months.
Market sentiment improved after ship-tracking data indicated a slight increase in tanker movements through the Strait of Hormuz, easing fears of a prolonged disruption to one of the world's most critical oil shipping routes. ING analysts noted that actual oil transfers across the strait could be higher than visible data suggests because many tankers may have disabled their tracking systems.
Meanwhile, Saudi Arabia held discussions with representatives from 43 countries to establish a maritime coalition aimed at protecting commercial shipping in and around the Red Sea. The initiative follows heightened threats from Iran-backed Houthi militants, whose attacks have disrupted key trade routes.
Oil markets also remained supported by recent military exchanges between the United States and Iran, along with concerns that the regional conflict could spread further. An unidentified drone strike on gas vessels at Egypt's Damietta port near the Suez Canal earlier this week reignited worries over the security of another vital energy transit corridor. The incident also raised concerns about potential disruptions to the nearby SUMED pipeline, a major route for transporting crude and refined products from the Middle East to Europe.
In addition, attacks on refineries across the Middle East and Russia have tightened supplies of gasoline, diesel, and jet fuel, keeping refining margins elevated.
Further supporting crude prices, the U.S. Energy Information Administration reported that commercial crude inventories fell by 7.2 million barrels to 404.5 million barrels during the week ended July 24. The larger-than-expected draw pushed U.S. stockpiles to their lowest level since 2018, reinforcing concerns that escalating geopolitical tensions could further tighten global oil supplies.
