US Treasury Yields Near 5% as Oil Fuels Inflation Fears 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
UK Businesses Urge Government to Cut Electricity Levies 
Gulf Ministers to Meet Iran in Oman Over Hormuz Shipping Deal 
Gold Prices Steady Ahead of U.S. Inflation Data and Fed Decision 
Norway Core Inflation Rises to 3% in August 
German Inflation Accelerates to 2.9% in August 
U.S. Stock Futures Steady as Oil Tops $100 Ahead of Inflation Data 
Asian Stocks Slide as Oil Surge Fuels Rate Hike Fears 
UK Economy Grows 0.4% in July, Beating Forecasts 
Global Central Banks Brace for More Rate Hikes as Inflation Risks Rise 
BOJ Set to Raise Rates to 1.25% as Inflation Risks Build 
Oil Prices Surge as Middle East Shipping Attacks Threaten Supply 
Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
Gold Prices Steady as Hot PPI Boosts Fed Rate Hike Bets 
Iraq Seeks 6 Million Bpd OPEC+ Oil Quota 
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Gold prices extended their losses during Asian trading on Wednesday, with bullion hovering near an eight-month low after recording its steepest quarterly decline in 13 years. Growing expectations that the Federal Reserve will raise interest rates this year, combined with persistent inflation concerns, continued to pressure the precious metal.
Spot gold fell 0.7% to $3,981.50 per ounce, while U.S. gold futures declined 1.1% to $3,994.32 an ounce. The latest move leaves gold down roughly 14% for the June quarter, marking its weakest quarterly performance since 2013.
Investors are now closely watching Federal Reserve Chair Kevin Warsh’s scheduled speech later on Wednesday for fresh signals on U.S. monetary policy and the outlook for interest rates. Any indication that the Fed intends to keep policy restrictive could further influence gold prices and broader financial markets.
Gold has remained under pressure as traders shift toward the U.S. dollar amid rising expectations that the Fed will deliver at least one interest rate increase before the end of the year. Minutes from the central bank’s June meeting revealed that several policymakers now support another rate hike, reversing earlier market expectations for interest rate cuts in 2026.
Persistent inflation remains a major concern for policymakers. While crude oil prices eased following the U.S.-Iran peace agreement, investors are increasingly focused on other inflationary risks, including higher semiconductor prices fueled by surging artificial intelligence demand. Inflation worries also intensified after Apple raised prices on several of its products in June.
According to CME FedWatch data, markets are currently pricing in at least one Federal Reserve rate hike this year. Higher interest rates typically reduce the appeal of non-yielding assets such as gold by increasing the opportunity cost of holding bullion.
Other precious metals also weakened. Spot silver slipped 1.3% to $57.7950 per ounce, ending the June quarter down 22%, while spot platinum fell 0.4% to $1,548.00 per ounce after posting a 21% quarterly decline, reflecting broad weakness across the precious metals market.
