Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Gold prices dropped in Asian trading on Monday, pressured by a strong U.S. dollar and fading hopes of near-term interest rate cuts. Spot gold fell 0.7% to $3,312.12 an ounce, while September gold futures slipped 0.8% to $3,320.67. The dollar held firm after last week’s upbeat U.S. payrolls data, which reduced expectations of a Federal Reserve rate cut in July or September.
Market sentiment was further dampened by renewed tariff threats from U.S. President Donald Trump. On Sunday, Trump warned of an additional 10% levy on nations aligned with BRICS, accusing the bloc of anti-American policies. However, the move did little to boost safe haven demand for gold, as Trump also delayed the implementation of new tariffs from July 9 to August 1, giving countries more time for trade negotiations.
Since April, the U.S. has secured only a few trade deals—most notably with the UK, China, and Vietnam—despite Trump’s claim of targeting 90 agreements in 90 days. Meanwhile, the CME FedWatch tool indicated a sharp decline in market bets on upcoming rate cuts, following robust labor market data. Higher interest rates typically support the dollar while weighing on commodities priced in the greenback.
The impact extended across other metals. Platinum futures dropped nearly 2% to $1,381.00 an ounce after a strong June rally. Silver futures declined 0.6% to $36.91. Industrial metals were also under pressure, with London copper futures falling 0.6% to $9,807.10 per ton and U.S. copper futures down 1% to $5.0130 per pound.
Investors remain cautious amid global trade uncertainty and shifting monetary policy expectations, keeping metal prices under pressure heading into the second half of 2025.
