Japan's Manufacturing PMI Returns to Growth in June, Beats Expectations 
Euro Zone Growth Stalls in June Amid Weak Services and Manufacturing Sectors 
UK Unveils Industrial Strategy to Cut Energy Bills and Boost Growth 
India’s Private Sector PMI Hits 14-Month High on Surging Demand and Export Boom 
Oil Prices Surge to 5-Month Highs Amid U.S.-Iran Tensions and Supply Fears 
South Korea Warns of Trade Risks Amid U.S.-Iran Tensions and Oil Price Surge 
Dollar Weakens as Trump-Brokered Iran-Israel Ceasefire Lifts Risk Sentiment 
UK Pledges £275M to Boost Skilled Workforce and Cut Reliance on Foreign Labor 
Middle East Conflict Spurs Oil Surge and Market Uncertainty as U.S. Weighs Involvement 
Singapore Core Inflation Holds Steady at 0.6% in May Amid Global Risks 
Asian Currencies Slip After U.S. Strikes Iran, Dollar Climbs 
U.S. Futures Climb as Trump Announces Iran-Israel Ceasefire, Tesla Soars 
Fed Rate Cut Could Come Sooner as July Odds Rise, Says Bowman 
Dollar Gains Slightly as Markets Brace for Iran’s Response to U.S. Strikes 
Asian Currencies Rise as Ceasefire Boosts Sentiment, Dollar Slips on Fed Rate Cut Bets 
Oil Prices Plunge as Trump Announces Israel-Iran Ceasefire 
Wall Street Futures Dip as Iran Tensions Push Oil Prices Higher 
Gold prices declined in Asian trading on Wednesday, pressured by improving US-China trade relations and weaker-than-expected US inflation data. Spot gold dropped 0.7% to $3,228.95 per ounce, while June gold futures fell 0.5% to $3,232.24 per ounce.
The decline follows the release of US Consumer Price Index (CPI) data on Tuesday, which came in below expectations, reducing fears of runaway inflation. Lower inflation readings typically dampen the appeal of gold, a traditional hedge against rising prices.
Market sentiment was further boosted after the US and China agreed on Monday to temporarily reduce tariffs to 30% and 10%, respectively, for a 90-day period. The easing of trade tensions lessened global recession concerns and shifted investor interest toward risk assets. US President Donald Trump also indicated he may personally engage with Chinese President Xi Jinping to finalize a trade deal, adding to optimism.
Despite the positive trade developments, some investors remained cautious, wary of a possible inflation rebound once tariffs are reinstated. This uncertainty over future Federal Reserve rate decisions weighed on bullion, which tends to perform better in low-interest environments due to lower opportunity costs.
The US Dollar Index remained largely flat during Asian trading hours, offering little support for gold prices.
Other precious metals also saw mixed movement. Silver futures declined 0.6% to $32.915 per ounce, while platinum futures gained 0.5% to $995.45 per ounce.
Copper prices inched higher, supported by hopes that trade de-escalation would boost demand from China, the world’s largest copper consumer. Benchmark copper futures on the London Metal Exchange rose 0.2% to $9,623.65 per ton, while July copper futures added 0.1% to $4.7125 per pound, with traders awaiting key US Producer Price Index (PPI) data for further inflation cues.
