Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
South Korea Remains MSCI Emerging Market Despite Reform Progress 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Bessent Says U.S. Must Strengthen Supply Chains and Economic Security 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
Gold Falls Below $4,000 as Strong Dollar and Fed Rate Hike Expectations Weigh on Prices 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
Gold prices climbed on Friday, positioning the precious metal for a weekly gain as investors retreated from riskier assets and sought refuge in safe haven investments like bullion and the U.S. dollar. The move came amid ongoing uncertainty surrounding U.S.-Iran peace negotiations and intensifying conflict in the Middle East.
Spot gold rose 2.6% to settle at $4,492.74 per ounce, while gold futures gained 2.5%, closing at $4,520.40 per ounce. For the week, spot gold was on pace for a 0.4% gain — a modest recovery following its steepest weekly decline in over four decades.
Despite the rebound, gold has struggled to fully reclaim its traditional safe haven status throughout the current Middle East crisis. A stronger U.S. dollar and persistent expectations of elevated interest rates — driven by inflationary pressure from rising oil prices — have continued to weigh on bullion's performance.
Joseph Cavatoni, senior market strategist at the World Gold Council, noted that the price recovery reflects how sensitive gold markets are to shifting macroeconomic signals. He emphasized that rate expectations and currency movements are currently exerting more immediate influence on gold than geopolitical risk alone. Nevertheless, Cavatoni maintained that gold's long-term fundamentals remain solid, supported by continued central bank demand, elevated global debt levels, and persistent economic uncertainty. He described recent price fluctuations as short-term recalibration rather than a structural breakdown in the broader gold rally.
Spot gold remains roughly 15% below its level at the start of the Iran conflict in late February and approximately 20% off the record highs reached in January.
Friday's session was further unsettled by geopolitical developments, including President Trump's extension of a deadline for Iran to reopen the Strait of Hormuz. Iranian officials confirmed that Israel struck several industrial and civilian energy sites, complicating diplomatic efforts and keeping investor sentiment fragile.
