Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Russian Envoy Dmitriev Heads to US for Ukraine Talks 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Dollar Holds Near Two-Month High as Yen Approaches 160 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
US, China Extend Trade Truce to Jan. 10 Ahead of Trump-Xi Summit 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
China’s ‘Lipstick King’ Says AI Won’t Replace Livestream Hosts 
Oil Prices Ease as Iran Tensions Clash With Diplomacy Hopes 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
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Gold prices tumbled sharply on Friday, recording their biggest weekly decline since mid-March as a stronger U.S. dollar and growing expectations of Federal Reserve rate hikes weighed heavily on the precious metals market. Rising inflation concerns tied to escalating Middle East tensions and higher oil prices also pushed investors toward the dollar, reducing demand for non-yielding assets like gold.
Spot gold fell 2.4% to close at $4,540.14 per ounce, while U.S. gold futures dropped 3% to settle at $4,543.60 per ounce. On a weekly basis, spot gold lost 3.7%, and gold futures declined 4%, reflecting increased market volatility and shifting investor sentiment.
Other precious metals also faced steep losses. Spot silver plunged 9% to $75.9795 per ounce, while platinum slipped 5.1% to $1,985.20 per ounce. Copper prices also weakened, with London Metal Exchange benchmark copper futures falling 1.5% to $13,938.50 per ton and U.S. copper futures dropping 4.9% to $6.2895 per pound.
The U.S. dollar strengthened significantly after hotter-than-expected U.S. CPI and PPI inflation reports signaled that rising oil prices linked to the Iran conflict were driving broader inflationary pressures. Investors now expect the Federal Reserve to maintain a more aggressive monetary policy stance, increasing the likelihood of additional interest rate hikes in the coming months.
A stronger dollar typically hurts gold prices because it makes bullion more expensive for overseas buyers. Analysts also noted that elevated metal prices may be starting to weaken industrial demand, particularly in China.
Meanwhile, President Donald Trump concluded his visit to China without major breakthroughs on trade, artificial intelligence, or the Iran conflict. Although Trump claimed China agreed to increase purchases of U.S. oil, Boeing aircraft, and agricultural products, few concrete details were released. Markets also remained cautious over ongoing geopolitical tensions involving Iran and uncertainty surrounding the Strait of Hormuz.
