Gold, Silver, and Platinum Rally as Precious Metals Recover from Sharp Selloff 
South Korea Factory Activity Hits 18-Month High as Export Demand Surges 
Trump Announces U.S.–India Trade Deal Cutting Tariffs, Boosting Markets and Energy Ties 
S&P 500 Rises as AI Stocks and Small Caps Rally on Strong Earnings Outlook 
India Budget 2025 Highlights Manufacturing Push but Falls Short of Market Expectations 
RBA Raises Interest Rates by 25 Basis Points as Inflation Pressures Persist 
U.S. Stock Futures Rise as Investors Eye Big Tech Earnings and AI Momentum 
EU Recovery Fund Faces Bottlenecks Despite Driving Digital and Green Projects 
Dollar Holds Firm as Strong U.S. Data, Fed Expectations and Global Central Bank Moves Shape Markets 
UK Employers Plan Moderate Pay Rises as Inflation Pressures Ease but Persist 
Gold Prices Stabilize in Asian Trade After Sharp Weekly Losses Amid Fed Uncertainty 
U.S. Stock Futures Slip as Markets Brace for Big Tech Earnings and Key Data 
South Korea Inflation Hits Five-Month Low as CPI Reaches Central Bank Target 
China and Uruguay Strengthen Strategic Partnership Amid Shifting Global Order 
Starmer’s China Visit Highlights Western Balancing Act Amid U.S.-China Rivalry 
Gold prices remained steady in Asian trade on Wednesday, consolidating sharp gains from earlier this week as rising U.S. fiscal deficit concerns and trade policy uncertainty bolstered safe-haven demand. Spot gold hovered at $3,337.25 an ounce, while August gold futures dipped slightly by 0.1% to $3,347.40/oz by 01:52 ET (05:52 GMT). Bullion has gained over 2% so far this week, reversing last week's losses triggered by the Israel-Iran ceasefire that temporarily dampened geopolitical risks.
The latest boost to gold came after the U.S. Senate narrowly passed President Donald Trump’s sweeping tax-and-spending bill, which is projected to add $3.3 trillion to the national debt. The bill, targeting tax cuts and increased military and immigration enforcement funding, now moves to the House for final approval ahead of a potential July 4 signing. Fears over the growing fiscal deficit have revived investor interest in safe-haven assets like gold.
Meanwhile, the market is closely watching Federal Reserve signals. Chair Jerome Powell reiterated a cautious stance on rate policy, saying the Fed would assess tariff impacts before adjusting interest rates. His comments were perceived as moderately dovish, with traders now eyeing Thursday’s U.S. nonfarm payrolls report for further clues on a potential July rate cut. A rate reduction in September is already widely anticipated.
Adding to gold’s support is mounting uncertainty around Trump’s July 9 tariff deadline. Trump reiterated there would be no extension and warned trading partners of impending tariff notifications. While he hinted at possible progress with India, he expressed skepticism about a deal with Japan.
Elsewhere in metals, silver held steady at $36.05/oz, platinum inched up 0.2% to $1,369.05, and copper gained with LME futures rising 0.4% to $9,968.65 a ton.
