Oman Proposes Strait of Hormuz Plan as U.S., Iran Remain Divided Over Shipping Fees 
Gold Price Holds Near $4,025 Ahead of Fed Decision as Middle East Tensions Lift Oil 
Australia Inflation Cools as Core CPI Misses Forecasts, Easing RBA Rate Hike Pressure 
US Stock Futures Slip Ahead of Fed Decision, Big Tech Earnings Amid Middle East Tensions 
South Korea’s KOSPI Soars as Samsung, SK Hynix Rebound on Microsoft-Fueled AI Rally 
US Stocks Slide as Fed Holds Rates, AI Chip Selloff Deepens and Oil Prices Surge 
US Stock Futures Rise as Amazon Earnings Boost AI Optimism Despite Apple Selloff 
Japan PM Sanae Takaichi Plans Temporary Food Tax Cut to Ease Inflation Pressure 
Asian Stocks Tumble as Tech Selloff Deepens Ahead of Fed Decision, Big Tech Earnings 
Gold Prices Fall 1% Ahead of Fed Decision as Markets Watch Warsh, Iran Talks 
Oil Prices Ease After Sharp Rally as Trump Warns of More Action Against Iran 
Asian Currencies Hold Steady After Fed Decision as Dollar Finds Support 
Fed Holds Interest Rates Steady as Kevin Warsh Says Rising Treasury Yields Tighten Financial Conditions 
Gold Price Slips as Stronger Dollar, Fed Rate Decision Weigh on Market 
Oil Prices Jump 4% as Iran Missile Strike Revives Middle East Supply Fears 
Asian Stocks Rebound as SK Hynix Earnings Calm AI Fears, Oil Surges Ahead of Fed Decision 
China PMI Falls Into Contraction as Manufacturing, Services Weaken in July 
Gold prices edged lower during Asian trading on Friday, but the precious metal remained on track to post its first monthly gain since February as investors balanced easing inflation concerns against uncertainty surrounding the Iran conflict and the outlook for U.S. interest rates.
Spot gold slipped 0.3% to $4,089.63 an ounce, while gold futures declined 0.2% to $4,090.70 per ounce. Despite the modest pullback, spot gold was still up roughly 2.1% for July, ending a string of monthly losses driven by fears that elevated oil prices would keep inflation high and force central banks to maintain a hawkish stance.
Investor sentiment improved after U.S. core Personal Consumption Expenditures (PCE) inflation, the Federal Reserve's preferred inflation measure, came in softer than expected for June. The data eased concerns that policymakers would need to raise interest rates immediately, providing support for non-yielding assets such as gold.
Meanwhile, reports that Iran and Oman were engaged in discussions over the Strait of Hormuz also helped calm market nerves. The prospect of reduced geopolitical tensions weighed on oil prices, lowering fears of renewed inflationary pressure from energy markets.
Earlier this week, the Federal Reserve kept interest rates unchanged, as widely expected. However, Fed Chair Kevin Warsh avoided giving a clear signal on the timing of future policy moves, while reaffirming the central bank's commitment to returning inflation to its 2% target. Despite softer inflation data, core PCE remains above that goal, and markets continue to expect at least one additional rate hike before the end of the year.
A weaker U.S. dollar also supported the broader metals market after the Japanese yen surged on reports of another intervention by Japanese authorities in currency markets.
Among precious metals, platinum outperformed with a 5.2% gain in July and a 2.6% weekly advance. Silver remained largely unchanged for the month but was modestly higher for the week. Copper prices also strengthened, supported by dollar weakness, expectations of tighter supply, and improving industrial demand, with both London Metal Exchange and COMEX copper futures posting solid monthly gains.
