Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Gold prices declined during Asian trading on Thursday, pulling back from three consecutive record-high sessions as easing geopolitical tensions and reassurance over U.S. monetary policy reduced safe-haven demand. Spot gold fell 0.8% to $4,588.55 per ounce, while U.S. gold futures edged down 0.3% to $4,594.10 by early Asian hours. The pullback came after gold reached an all-time high of $4,642.72 per ounce in the previous session, driven by heightened global uncertainty.
The broader precious metals market saw steeper losses, with silver prices plunging nearly 6% to $87.74 per ounce and platinum falling 4% to $2,309.52. The sharp declines reflected profit-taking after a strong rally that pushed prices well above key technical levels, prompting traders to lock in gains.
Gold’s recent surge had been fueled by fears that escalating unrest in Iran could lead to U.S. military involvement and destabilize the Middle East, alongside concerns about political pressure on the U.S. Federal Reserve. However, sentiment shifted after U.S. President Donald Trump signaled a softer stance on Iran, stating that he had been assured Iranian authorities would curb violence against protesters and that there were no plans for large-scale executions. These comments reduced expectations of an immediate U.S. response, easing geopolitical risk premiums that had supported gold prices.
Additional pressure came after Trump sought to calm markets regarding the Federal Reserve. In comments to Reuters, he said he had no intention of firing Fed Chair Jerome Powell, despite ongoing scrutiny, helping ease investor concerns about the central bank’s independence and future policy direction.
Despite the decline, gold remains supported by expectations of U.S. interest rate cuts later this year, ongoing geopolitical risks, and strong central bank demand. Lower interest rates typically boost gold prices by reducing the opportunity cost of holding the non-yielding asset, suggesting that bullion could remain resilient even after the latest pullback.
