Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
Trump Urges Gasoline Retailers to Cut Prices to $2.50 Per Gallon, Warns of Legal Action 
Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
China Sets 1.25% Overnight Reverse Repo Rate Below Market Expectations 
RBA Minutes Signal Australia Central Bank Remains Ready to Raise Interest Rates if Inflation Persists 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Gold Price Falls as Fed Rate Hike Fears and U.S.-Iran Tensions Weigh on Bullion 
Global Financial Firms Shift Asia Expansion Focus to South Korea as China, India Face Caution 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
Trump Suspends Some Morocco Fertilizer Tariffs to Ease U.S. Supply Shortage 
Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
US Stock Futures Rise as US-Iran Ceasefire Hopes Boost Market Sentiment 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
Japan Targets 1%+ Real Economic Growth With ¥370 Trillion Investment Plan 
Argentina Economy Shrinks 1.5% in April, Recovery Under Milei Loses Momentum 
Gold prices climbed on Friday and were set for a strong weekly gain as the U.S. dollar weakened following the latest U.S. jobs report. Investors also turned to safe-haven assets amid ongoing tensions in the Middle East and uncertainty surrounding the Strait of Hormuz.
Spot gold increased 0.7% to $4,717.91 per ounce, while gold futures gained 0.4% to $4,727.11 per ounce. The precious metal has now risen more than 2% this week after recovering from one-month lows recorded earlier in May.
Market sentiment improved after U.S. President Donald Trump stated that the ceasefire between the United States and Iran remained active despite recent military clashes near the Strait of Hormuz. The strategically important waterway, which handles nearly 20% of global oil and gas shipments, has faced severe disruptions since tensions escalated earlier this year.
The U.S. military confirmed that it disabled several Iranian-flagged oil tankers attempting to enter Iranian ports in the Gulf of Oman. Reports also indicated that American forces responded to attacks on U.S. warships in the region with strikes near Iran’s Bandar Abbas and Qeshm port areas.
Meanwhile, investors closely monitored the latest U.S. labor market data. The Bureau of Labor Statistics reported that nonfarm payrolls rose by 115,000 in April, surpassing expectations of 65,000. The unemployment rate remained unchanged at 4.3%.
Despite the stronger-than-expected jobs report, traders reduced expectations for additional Federal Reserve interest rate hikes this year. The softer outlook for rates pressured the U.S. dollar lower, making gold more attractive to international buyers.
Other precious metals also moved higher, with silver surging 2.5% to $80.41 per ounce and platinum rising 0.2% to $2,065.70 per ounce.
