Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Wall Street Ends Mixed as Tech Stocks Struggle Ahead of Micron Earnings 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
South Korea Remains MSCI Emerging Market Despite Reform Progress 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
Gold prices retreated below critical support levels during Asian trading hours on Monday, pressured by ongoing geopolitical tensions stemming from the U.S.-Israel military campaign against Iran and growing caution ahead of a pivotal Federal Reserve policy meeting later this week.
Spot gold declined 0.5% to $4,995.21 per ounce, while gold futures dropped a sharper 1.3% to $4,996.96 per ounce. The pullback reflects a broader struggle for the precious metal, which has failed to fully capitalize on its traditional safe-haven appeal amid the escalating Middle East conflict.
The Iran situation continued to rattle financial markets after U.S. and Israeli forces struck a major Iranian oil export terminal over the weekend, prompting strong retaliatory threats from Tehran. Crude oil prices held firmly above $100 per barrel, stoking fears of energy-driven inflation that could complicate the Federal Reserve's path forward on interest rates. While President Donald Trump signaled that diplomatic talks were underway to reopen a key Iranian-blockaded shipping corridor, Tehran has consistently dismissed any near-term resolution.
The prospect of a hawkish Federal Reserve stance is arguably the biggest headwind for gold right now. With inflation proving stubborn — partly fueled by elevated oil costs — investors are pricing in the possibility that the central bank may signal a prolonged period of elevated interest rates. Higher yields strengthen the U.S. dollar, which in turn diminishes demand for non-yielding assets like gold. ANZ analysts highlighted that a firmer dollar, rising bond yields, and trader liquidations driven by margin calls have collectively suppressed bullion prices. That said, the bank maintained that gold's fundamental case as a hedge against geopolitical risk remains valid over the longer term.
Elsewhere in metals markets, spot silver fell 1.8% to $79.18 per ounce, while spot platinum edged 0.2% higher to $2,031.43 per ounce as the dollar continued to strengthen across the board.
