US Stock Futures Rise as US-Iran Ceasefire Hopes Boost Market Sentiment 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
China Sets 1.25% Overnight Reverse Repo Rate Below Market Expectations 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Japan Targets 1%+ Real Economic Growth With ¥370 Trillion Investment Plan 
Gold prices surged past $2,900 per ounce for the first time this week, driven by escalating trade tensions after President Donald Trump hinted at a 25% tariff on all US steel and aluminum imports.
Despite this record-breaking rally, Joe Maher, assistant economist at Capital Economics, warns that gold's momentum might not last. Precious metals have performed exceptionally well in 2025, even without support from typical drivers like the US dollar and real yields. The usual inverse correlation between gold prices and the 10-year US TIPS yield has weakened, with investors seeking gold as a hedge against potential trade wars.
Fears of gold being caught in trade disputes may have prompted US investors to stockpile the metal, particularly on the Comex exchange. Central banks have also increased gold purchases, potentially to reduce exposure to US sanctions, especially after $300 billion of Russian reserves were frozen following the Ukraine invasion.
Additionally, the large US fiscal deficit and Trump's remarks on national debt may be eroding reserve managers' confidence. Robust demand from China’s central bank and private investors seeking stable assets has further fueled gold’s rise.
While non-traditional drivers may continue to support gold prices in the short term, Capital Economics predicts that central bank diversification will be gradual. The high price may deter some investors, and expected rises in long-term US Treasury yields could push gold prices down to $2,750 by the end of 2025.
