China Agrees to Buy 20 Million Tons of U.S. Coal 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
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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.
