Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
China Agrees to Buy 20 Million Tons of U.S. Coal 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Trump, Xi Focus on Trade and AI at White House Summit 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Fed Unveils Stablecoin Rules Under GENIUS Act 
US Comfortable With Canada Trade Standoff as Import Bans Loom 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
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Gold prices edged higher on Friday after two days of steep losses, supported by investor caution ahead of U.S.-China trade talks and mixed signals from the new U.S.-U.K. trade framework. Spot gold rose 0.4% to $3,320.95 per ounce, while June gold futures gained 0.5% to $3,329.24 as of 05:44 GMT. Despite recent volatility, the yellow metal is poised for a weekly gain of over 2%, reflecting lingering uncertainty in global markets.
Earlier in the Asian session, gold slipped on optimism surrounding easing trade tensions. However, doubts remain over the broader impact of the U.K. trade agreement, especially with the U.S. maintaining a 10% tariff on British imports. In response, the U.K. reduced its tariff rate to 1.8% from 5.1%. President Donald Trump confirmed the deal on Thursday and hinted at substantive upcoming negotiations with China, scheduled for the weekend.
Commerce Secretary Howard Lutnick emphasized that more trade deals are expected but reiterated the administration’s intent to uphold the 10% blanket tariff. ING analysts expressed skepticism that the U.K. deal would spark wider trade de-escalation, noting that only progress with China could significantly impact global trade dynamics.
A weaker U.S. dollar also supported gold prices by making the metal more attractive to international buyers. Meanwhile, silver futures held steady at $32.653 an ounce, and platinum rose 0.5% to $986.55.
In base metals, copper prices dipped despite resilient Chinese trade data. London copper futures fell 0.4% to $9,395.20 a ton, while July copper contracts on U.S. exchanges dropped 1.4% to $4.540 a pound, reflecting cautious sentiment ahead of trade talks with Beijing.
