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Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Germany’s 2026 Growth Outlook Strengthens on Fiscal Spending 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
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Gold prices slipped in Asian trading on Monday, retreating from record highs amid signs of easing U.S.-China trade tensions. Spot gold dropped 0.8% to $3,292.75 per ounce by 01:54 ET (05:54 GMT), while June gold futures edged up 0.2% to $3,303.77 per ounce.
Market sentiment shifted after media reports indicated China exempted certain U.S. imports from its retaliatory 125% tariffs. President Donald Trump said last week that tariff negotiations were underway and that he had spoken with Chinese President Xi Jinping. However, U.S. Treasury Secretary Scott Bessent later contradicted Trump, saying he was unaware of any ongoing talks, while Chinese officials also denied recent discussions.
Investors remained cautious ahead of a key batch of U.S. economic data this week, including April’s jobs report, first-quarter GDP figures, and the Federal Reserve’s preferred inflation measure, the PCE price index. These indicators will likely influence expectations for future interest rate moves as the Fed maintains a cautious stance amid global uncertainty. The U.S. Dollar Index was little changed on Monday.
In other metals, silver futures slipped 0.6% to $32.807 per ounce, while platinum futures rose 0.5% to $977.55 per ounce.
Copper prices also edged lower, with London Metal Exchange copper futures falling 0.2% to $9,389.0 a ton and May copper futures declining 0.4% to $4.8737 per pound. However, hopes for additional economic stimulus from China, the world’s largest copper importer, helped limit losses. Chinese media reported that Beijing remains confident in achieving its 5% annual growth target, potentially boosting demand for industrial metals.
