Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
South Korea Remains MSCI Emerging Market Despite Reform Progress 
Australia Jobs Growth Strengthens Rate Hike Outlook 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Bessent Says U.S. Must Strengthen Supply Chains and Economic Security 
Gold prices slipped on Wednesday but remained positioned for weekly gains as investors closely monitored developments surrounding a potential permanent ceasefire between the United States and Iran. Spot gold fell 1% to $4,794.67 per ounce, retreating from a recent one-month peak, while gold futures edged down 0.7% to $4,817.26 per ounce.
Despite the daily pullback, bullion was still up roughly 1% for the week, reflecting a cautious return of risk appetite in global markets. Wall Street has already reclaimed record highs, erasing all losses accumulated since hostilities erupted in late February following joint U.S. and Israeli strikes on Iran.
Gold struggled throughout March as the conflict triggered a sharp rise in oil prices, stoking global inflation fears and raising expectations of potential interest rate hikes by central banks worldwide. Since gold yields no interest, a rising-rate environment tends to weigh heavily on its appeal. Adding to the pressure, investors gravitated toward the U.S. dollar as their preferred safe haven, partly because the United States, as a net energy exporter, remains relatively shielded from oil supply disruptions through the Strait of Hormuz.
President Donald Trump has expressed optimism that the conflict is "close to over," suggesting a permanent ceasefire could be finalized before King Charles visits the United States later this month. A second round of U.S.-Iran ceasefire talks is expected to resume imminently, following inconclusive negotiations held in Pakistan last weekend. White House Press Secretary Karoline Leavitt confirmed that diplomatic conversations remain "productive and ongoing."
A fragile two-week ceasefire is set to expire on April 21, but mediators are reportedly making headway on key sticking points, including Iran's nuclear program, the Strait of Hormuz closure, and war reparations. Analysts warn that gold's next directional move hinges on whether prices can firmly establish support above the $4,800 level.
