South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
South Korea Remains MSCI Emerging Market Despite Reform Progress 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Bessent Says U.S. Must Strengthen Supply Chains and Economic Security 
Gold prices moved higher during Asian trading on Thursday after recording their strongest daily gain since March, supported by a weaker U.S. dollar and easing concerns over inflation linked to Middle East tensions. Investors also reacted positively to reports suggesting progress toward a potential peace agreement between the United States and Iran.
Spot gold increased 0.4% to $4,707.31 per ounce, while U.S. gold futures for June delivery climbed 0.4% to $4,713.86. The precious metal had already surged nearly 3% in the previous session as oil prices dropped sharply following signs of improving geopolitical conditions.
Market sentiment improved after reports indicated that the White House was close to reaching a memorandum of understanding with Iran aimed at ending the ongoing conflict. Iranian officials confirmed they were reviewing the proposal, while U.S. President Donald Trump stated that Tehran appeared willing to finalize an agreement.
The possibility of reduced geopolitical tensions pushed crude oil prices significantly lower, easing fears of prolonged inflation pressures. Lower oil prices also contributed to declines in U.S. Treasury yields and weakened the dollar, both of which typically support gold prices because bullion becomes more attractive to investors seeking safe-haven assets.
The U.S. dollar index slipped another 0.1% during Asian trading after falling 0.4% overnight, remaining close to levels seen before the recent conflict escalation. Although oil stabilized slightly on Thursday, investors remain cautious as they await further developments surrounding the U.S.-Iran negotiations.
Traders are now closely watching Friday’s U.S. non-farm payrolls report for additional signals regarding the Federal Reserve’s future interest-rate decisions. Recent comments from Federal Reserve officials highlighted concerns that Middle East instability could still impact inflation and global supply chains.
Among other precious metals, silver gained 0.7% to $77.85 per ounce, while platinum traded near $2,065.17 per ounce.
