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Gold Price Hits Annual Low as Fed Rate Hike Bets and Sticky Inflation Weigh on Bullion 
Oil Prices Slip as U.S.-Iran Peace Talks and Strait of Hormuz Risks Keep Markets on Edge 
Trump Urges Gasoline Retailers to Cut Prices to $2.50 Per Gallon, Warns of Legal Action 
China Sets 1.25% Overnight Reverse Repo Rate Below Market Expectations 
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China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
China Manufacturing PMI Edges Higher in June as Exports and AI Investment Boost Growth 
RBA Minutes Signal Australia Central Bank Remains Ready to Raise Interest Rates if Inflation Persists 
US Stock Futures Rise as US-Iran Ceasefire Hopes Boost Market Sentiment 
Asian Stocks End Strong Quarter as Dollar Surges, Yen Hits 40-Year Low Ahead of US Jobs Data 
Gold Prices Drop as Fed Rate Outlook and Iran Tensions Weigh on Market 
Global Financial Firms Shift Asia Expansion Focus to South Korea as China, India Face Caution 
Gold prices moved higher during Asian trading on Thursday after recording their strongest daily gain since March, supported by a weaker U.S. dollar and easing concerns over inflation linked to Middle East tensions. Investors also reacted positively to reports suggesting progress toward a potential peace agreement between the United States and Iran.
Spot gold increased 0.4% to $4,707.31 per ounce, while U.S. gold futures for June delivery climbed 0.4% to $4,713.86. The precious metal had already surged nearly 3% in the previous session as oil prices dropped sharply following signs of improving geopolitical conditions.
Market sentiment improved after reports indicated that the White House was close to reaching a memorandum of understanding with Iran aimed at ending the ongoing conflict. Iranian officials confirmed they were reviewing the proposal, while U.S. President Donald Trump stated that Tehran appeared willing to finalize an agreement.
The possibility of reduced geopolitical tensions pushed crude oil prices significantly lower, easing fears of prolonged inflation pressures. Lower oil prices also contributed to declines in U.S. Treasury yields and weakened the dollar, both of which typically support gold prices because bullion becomes more attractive to investors seeking safe-haven assets.
The U.S. dollar index slipped another 0.1% during Asian trading after falling 0.4% overnight, remaining close to levels seen before the recent conflict escalation. Although oil stabilized slightly on Thursday, investors remain cautious as they await further developments surrounding the U.S.-Iran negotiations.
Traders are now closely watching Friday’s U.S. non-farm payrolls report for additional signals regarding the Federal Reserve’s future interest-rate decisions. Recent comments from Federal Reserve officials highlighted concerns that Middle East instability could still impact inflation and global supply chains.
Among other precious metals, silver gained 0.7% to $77.85 per ounce, while platinum traded near $2,065.17 per ounce.
