Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
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 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Gold prices edged lower in Asian trading on Friday, poised for their first weekly decline in ten weeks, as investors booked profits following recent record highs and awaited crucial U.S. inflation data. Spot gold fell 0.4% to $4,109.55 per ounce at 01:35 ET (05:35 GMT), while U.S. gold futures slipped 0.5% to $4,123.70. The yellow metal had surged to an all-time high of $4,381.29 earlier in the week before retreating more than 5% on Tuesday.
Despite its impressive nine-week rally, gold was on track for a 3% weekly loss, driven by profit-taking and improving market sentiment after signs of easing U.S.-China tensions. Analysts noted that the pullback was natural following record-breaking gains, especially as investors awaited key economic data that could shape the Federal Reserve’s next move.
The White House confirmed that President Donald Trump will meet Chinese President Xi Jinping in South Korea next week, boosting hopes of a thaw in trade relations between the world’s two largest economies. Meanwhile, traders were focused on the delayed U.S. Consumer Price Index (CPI) report for September, seen as pivotal for the Fed’s policy outlook. Markets largely expect a 25-basis-point rate cut at the upcoming meeting, but the CPI outcome could sway sentiment. A softer reading could bolster gold by reinforcing expectations of monetary easing, while a stronger print might strengthen the dollar and Treasury yields, pressuring bullion.
The dollar held firm, on pace for a weekly gain, making gold more expensive for non-U.S. buyers. Nonetheless, analysts remain optimistic about gold’s long-term prospects, citing lower rate expectations and persistent geopolitical uncertainty.
Other metals also traded weaker, with silver futures down 1% at $48.13, platinum steady at $1,594.60, and copper slipping 0.5% to $10,832.20 per ton. China’s new five-year economic plan, emphasizing technological self-reliance and domestic demand, offered some optimism for future industrial growth.
