Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Oil Prices Edge Higher as U.S. Seizes Sanctioned Venezuelan Tanker 
US Signals Openness to New Trade Deal as Brazil Shows Willingness, Says USTR Greer 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Global Forex Markets Brace for Fed Decision as Yen Extends Weakness 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Gold prices edged higher in Asian trading on Friday, rebounding from sharp losses in the previous session, as concerns over the U.S. fiscal deficit and looming trade tensions supported demand. Spot gold rose 0.5% to $3,341.34 per ounce, while August gold futures gained 0.2% to $3,349.52.
Despite falling nearly 1% on Thursday after a stronger-than-expected U.S. jobs report dampened hopes of a July rate cut, gold remained on track for a 1.8% weekly gain—its first in three weeks. The robust jobs data reduced market expectations of a near-term Federal Reserve policy shift, strengthening the U.S. dollar and briefly weighing on bullion.
However, market sentiment was bolstered by renewed worries over the U.S. fiscal outlook. On Thursday, Congress passed President Trump’s sweeping tax bill, which includes deep tax cuts and reduced social spending. The Congressional Budget Office estimates the bill could add $3.4 trillion to the $36.2 trillion national debt. This added to safe-haven appeal for gold, which tends to benefit from fiscal instability.
Further supporting gold were escalating trade tensions. Trump announced that starting Friday, the U.S. would begin issuing letters to over 170 countries outlining new unilateral export tariffs between 20% and 30%, abandoning multilateral negotiations. While deals with the UK, Vietnam, and a limited framework with China are in place, broader uncertainty boosted investor demand for gold as a hedge.
In other metals, platinum futures climbed 0.5% to $1,385.80 per ounce, while silver futures slipped 0.3% to $37.00. Copper saw mixed moves—LME copper dipped 0.3% to $9,923.65 per ton, and U.S. copper futures fell 0.4% to $5.115 per pound. The U.S. Dollar Index dipped 0.1% but held onto gains from the jobs data.
