Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Gold Price Falls as Fed Rate Hike Fears and U.S.-Iran Tensions Weigh on Bullion 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
China Sets 1.25% Overnight Reverse Repo Rate Below Market Expectations 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Gold prices climbed in Asian trade on Friday, nearing record highs as investors sought safe-haven assets amid economic uncertainty. The metal is poised for strong weekly gains, driven by renewed U.S.-China trade tensions and a weaker dollar. Escalating geopolitical risks in the Middle East also bolstered gold’s appeal.
Spot gold rose 0.2% to $2,862.67 an ounce, while futures increased 0.3% to $2,884.81. The metal has gained 2.4% this week. Analysts at Citi and UBS raised their gold price forecasts for 2025, predicting a continued bull market. Citi expects gold to hit $3,000 in the short term, while UBS sees it reaching that level by year-end.
Gold remains strong ahead of the highly anticipated U.S. nonfarm payrolls report, which could impact Federal Reserve policy. A robust labor market could delay interest rate cuts, potentially weighing on gold’s long-term outlook. The Fed has signaled caution on rate adjustments due to persistent inflation and economic uncertainty.
Other precious metals also saw gains this week. Silver futures edged up to $32.678 an ounce, while platinum futures held steady at $1,021.65.
Copper prices advanced as traders bet on Chinese stimulus measures to counteract trade war effects. London Metal Exchange copper futures climbed 1.1% to $9,389.85 a ton, while March copper futures rose 0.6% to $4.4875 a pound. Beijing is expected to introduce economic support to mitigate the impact of U.S. tariffs, following Trump’s recent 10% duty on Chinese imports. Analysts at JPMorgan anticipate further tariff hikes, potentially escalating tensions.
Investors remain focused on key economic data and policy decisions that could shape market trends in the coming months.
