Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
EU Weighs New Trade Restrictions on Israeli West Bank Settlements 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Dollar Rises as Middle East Conflict Fuels Inflation and Rate Hike Fears 
Gold Prices Fall as US-Iran Conflict, Rising Oil Prices Fuel Fed Rate Concerns 
BOJ May Raise Japan Growth Forecast While Keeping Focus on Inflation Risks 
Iraq PM Visits Washington as U.S. Oil, Gas Deals Take Center Stage 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
Gordie Howe Bridge to Open July 27 After U.S.-Canada Reach Toll Revenue Agreement 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
US-Iran Strikes Escalate as Strait of Hormuz Crisis Pushes Oil Prices Higher 
South Korea’s KOSPI Triggers Trading Curb as AI Chip Stock Selloff Deepens 
Asia Stocks Slip as Iran-Hormuz Tensions Lift Oil Prices, Dollar and Bond Yields 
Gold prices declined on Friday and were headed for a weekly loss as escalating tensions between the United States and Iran, along with higher oil prices, fueled concerns that inflation could remain elevated and keep the Federal Reserve cautious on interest rate cuts.
Spot gold slipped 0.2% to $4,114.45 per ounce, while gold futures fell 0.5% to $4,122.47 per ounce. Both benchmarks were down about 1.6% for the week, reflecting weaker investor sentiment toward the precious metal.
The latest geopolitical tensions followed reported Iranian attacks on three commercial oil tankers near the Strait of Hormuz, a vital global shipping route. The incident pushed crude oil prices higher, raising fears that increased energy costs could reignite inflation and delay potential Federal Reserve rate cuts.
President Donald Trump intensified his stance against Iran, declaring on Truth Social that the ceasefire was "over," despite acknowledging earlier this week that Tehran had expressed interest in negotiating a new agreement. At the same time, regional mediators Oman and Pakistan urged both sides to pursue diplomacy, suggesting neither government was seeking a broader military conflict.
Analysts at ANZ said gold found some support from expectations that the Middle East conflict would remain contained. However, renewed gains in oil prices have reinforced concerns that the Fed may need to keep interest rates higher for longer to contain inflationary pressures.
Shipping activity through the Strait of Hormuz also slowed this week as traders and shipping companies became more cautious, adding to supply concerns in the energy market and supporting crude prices.
The Federal Reserve's June meeting minutes, released earlier this week, showed policymakers remained divided over the future path of interest rates. The Fed's latest report to Congress also highlighted persistent inflation risks stemming from geopolitical tensions, tariffs, and growing demand related to artificial intelligence.
Investors are now turning their attention to next week's U.S. inflation data. June consumer price index (CPI) figures are scheduled for Tuesday, followed by producer price index (PPI) data on Wednesday. While May inflation reached its highest annual pace since 2023 due largely to earlier oil price spikes, many analysts expect those readings to represent the peak, provided energy markets stabilize.
