US Treasury Doubles Long-Term Bond Buybacks as Yields Surge 
UK Wage Growth Holds at 3.5% as Unemployment Rises 
China Set to Hold Benchmark Lending Rates Steady for 15th Month 
Asian Stocks Slide as Chip Selloff and High Bond Yields Hit Markets 
US Dollar Holds Steady as Fed Rate Bets and Iran Tensions Drive Markets 
Japan Trade Deficit Widens as Imports Surge on Energy and AI Demand 
Gold Tops $4,500 as Dollar Slides After Treasury Bond Move 
UK Inflation Rises to 2.9% in July as Energy Costs Climb 
Trump Says Iran Talks Halted as Strait of Hormuz Dispute Fuels Oil Concerns 
Asian Chip Stocks Plunge as Bond Yields Fuel AI Valuation Fears 
Trump Pauses 50% Canada Tariffs for Three Days as U.S. Trade Deal Takes Shape 
Australia Unemployment Rate Hits 4.5% as Jobs Fall in July 
Wall Street Gains as Treasury Yields Fall, Fed Minutes Signal Inflation Risks 
Oil Prices Rise as US-Iran Tensions Renew Strait of Hormuz Supply Fears 
Gold Prices Edge Higher as Dollar Weakens Ahead of Fed Minutes 
U.S. Public Debt Tops $40 Trillion for First Time 
Trump Eyes 15% Tariff on Canadian Auto Imports in New Trade Deal 
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Gold prices steadied during Asian trading on Thursday after surging more than 2% in the previous session, as thin liquidity from Lunar New Year holidays limited further upside. Investors continued to weigh persistent geopolitical tensions and mixed signals from the Federal Reserve, both key drivers of the precious metals market.
Spot gold edged down 0.1% to $4,971.55 per ounce, while U.S. gold futures slipped 0.4% to $4,991.59. In the prior session, bullion rallied 2.1% and briefly crossed the $5,000 per ounce mark, recovering most of the losses recorded earlier in the week. However, reduced trading volumes across major Asian markets amplified short-term price movements and curbed momentum.
Safe-haven demand remains strong as geopolitical risks intensify. Market participants are closely monitoring rising tensions between the United States and Iran, particularly concerns surrounding maritime security in the Strait of Hormuz and stalled nuclear negotiations. Ongoing uncertainty in Russia-Ukraine peace efforts has also reinforced global security concerns, supporting demand for gold as a hedge against instability.
Meanwhile, investors digested minutes from the Federal Reserve’s latest policy meeting, which revealed divisions among policymakers regarding the future path of interest rates. Some officials signaled that additional tightening could be necessary if inflation remains persistent, while others suggested that rate cuts could be possible later in the year.
The prospect of higher-for-longer U.S. interest rates boosted the U.S. dollar and Treasury yields, pressuring non-yielding assets like gold. The U.S. Dollar Index held steady after climbing 0.6% overnight following the release of the Fed minutes. Rising yields typically increase the opportunity cost of holding gold, limiting its upside potential.
Traders now await the upcoming U.S. Personal Consumption Expenditures (PCE) price index data, the Federal Reserve’s preferred inflation gauge, for clearer signals on monetary policy and the direction of gold prices.
