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Trump, Xi Focus on Trade and AI at White House Summit 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
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Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
China Agrees to Buy 20 Million Tons of U.S. Coal 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
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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.
