Gold Falls Below $4,000 as Strong Dollar and Fed Rate Hike Expectations Weigh on Prices 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
South Korea Remains MSCI Emerging Market Despite Reform Progress 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Wall Street Ends Mixed as Tech Stocks Struggle Ahead of Micron Earnings 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
Gold prices rebounded slightly in Asian trading on Tuesday after hitting a one-month low, as investors reacted to escalating geopolitical tensions in the Middle East and renewed efforts by U.S. President Donald Trump to secure shipping routes through the Strait of Hormuz. Spot gold increased by 0.4% to $4,539.75 per ounce, while U.S. gold futures for June delivery climbed 0.3% to $4,548.10.
Despite this modest recovery, the precious metal remains under pressure following a sharp decline of more than 2% in the previous session, marking its lowest level since late March. Ongoing conflict between the United States and Iran continues to dominate market sentiment, particularly after both nations launched fresh attacks targeting control of the strategically vital Strait of Hormuz, a key artery for global oil shipments.
The U.S. military reported the destruction of six Iranian attack boats during recent clashes, while Iran escalated the situation by striking the United Arab Emirates. A major oil facility at Fujairah port was set ablaze after missile and drone strikes, raising concerns over potential disruptions in global energy supply chains.
Trump’s “Project Freedom,” aimed at restoring safe passage for vessels in the region, has offered some optimism to markets. However, uncertainty surrounding further military escalation has kept investors cautious. Typically, geopolitical instability boosts demand for safe-haven assets like gold, but rising oil prices have complicated the outlook.
Higher crude oil prices have fueled inflation concerns, prompting an increase in global bond yields. This shift reduces the attractiveness of non-yielding assets such as gold, limiting its upward momentum. As a result, gold prices have struggled to gain traction and are down more than 10% since the conflict intensified in late February.
Other precious metals also saw gains, with silver rising 0.4% to $72.99 per ounce and platinum advancing 1.4% to $1,973.75. Investors continue to monitor developments in the Middle East, as both geopolitical risks and macroeconomic factors like inflation and interest rates play a crucial role in shaping the direction of gold and commodity markets.
