SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
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.
