South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Gold prices stabilized in Asian markets on Tuesday, following a pullback triggered by mixed signals around the Israel-Iran conflict and U.S. involvement. Spot gold edged up 0.2% to $3,392.25 per ounce, while August gold futures slipped 0.2% to $3,410.70.
Monday saw bullion surge above $3,450 before reversing, as reports of Iran seeking a ceasefire sparked risk-on sentiment. However, Iran later denied any intention to negotiate under Israeli attacks. U.S. President Donald Trump intensified concerns with a stark warning to “immediately evacuate Tehran,” though the White House clarified the U.S. would not engage directly in the conflict.
Despite the heightened geopolitical risk, reports from Axios suggested Washington is still pursuing diplomatic talks with Tehran regarding both a ceasefire and the nuclear deal, though no date has been confirmed. Uncertainty over Middle East developments continues to influence gold market direction.
Meanwhile, broader precious and industrial metals were under pressure as investors await the Federal Reserve’s policy decision. The Fed is expected to keep rates unchanged, but traders are watching Chair Jerome Powell’s comments for signals on future monetary policy.
Among other metals, silver rose 0.2% to $36.503 per ounce, while platinum dipped 0.1% to $1,239.90. Copper prices weakened, with London futures down 0.4% to $9,674.75 per ton, and U.S. copper flat at $4.8163 per pound. Despite a softer U.S. dollar, sentiment remained cautious ahead of the Fed announcement.
Citi analysts warned that gold could drop below $3,000 in the coming quarters as the current rally loses momentum. Investor demand for safe-haven assets like gold may also decline if geopolitical tensions ease and interest rates remain elevated.
