Trump, Xi Focus on Trade and AI at White House Summit 
Dollar Holds Near Two-Month High as Yen Approaches 160 
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 
Wall Street Falls as Treasury Yields Surge, Oil Rebounds on Iran Tensions 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
South Korea, US Discuss Warship Building Cooperation 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Oil Prices Ease as Iran Tensions Clash With Diplomacy Hopes 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
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Gold prices climbed on Friday and were set for a strong weekly gain as the U.S. dollar weakened following the latest U.S. jobs report. Investors also turned to safe-haven assets amid ongoing tensions in the Middle East and uncertainty surrounding the Strait of Hormuz.
Spot gold increased 0.7% to $4,717.91 per ounce, while gold futures gained 0.4% to $4,727.11 per ounce. The precious metal has now risen more than 2% this week after recovering from one-month lows recorded earlier in May.
Market sentiment improved after U.S. President Donald Trump stated that the ceasefire between the United States and Iran remained active despite recent military clashes near the Strait of Hormuz. The strategically important waterway, which handles nearly 20% of global oil and gas shipments, has faced severe disruptions since tensions escalated earlier this year.
The U.S. military confirmed that it disabled several Iranian-flagged oil tankers attempting to enter Iranian ports in the Gulf of Oman. Reports also indicated that American forces responded to attacks on U.S. warships in the region with strikes near Iran’s Bandar Abbas and Qeshm port areas.
Meanwhile, investors closely monitored the latest U.S. labor market data. The Bureau of Labor Statistics reported that nonfarm payrolls rose by 115,000 in April, surpassing expectations of 65,000. The unemployment rate remained unchanged at 4.3%.
Despite the stronger-than-expected jobs report, traders reduced expectations for additional Federal Reserve interest rate hikes this year. The softer outlook for rates pressured the U.S. dollar lower, making gold more attractive to international buyers.
Other precious metals also moved higher, with silver surging 2.5% to $80.41 per ounce and platinum rising 0.2% to $2,065.70 per ounce.
