Wall Street Futures Rise Ahead of Trump-Xi Summit as Tech Stocks Lead Market Rally 
OECD Sees Bank of Japan Raising Interest Rates to 2% by 2027 
Trump, Xi Begin High-Stakes China Summit Focused on Trade, Taiwan and Global Tensions 
Asian Stocks Steady as Iran War Concerns Persist Ahead of Trump-Xi Summit 
Japan Considers Extra Budget Aid Amid Rising Fuel and Utility Costs 
Asian Stocks Edge Higher as Tech Shares Rise Ahead of Trump-Xi Beijing Summit 
Oil Prices Slip as Strait of Hormuz Disruptions and U.S. Inventory Data Keep Markets on Edge 
Rubio Discusses Iran Crisis and Strait of Hormuz Disruptions With UK and Australia 
US, Japan Reaffirm Strong Currency Coordination Amid Yen Volatility 
US-China Trade Talks Begin in South Korea Ahead of Trump-Xi Beijing Summit 
US Stock Futures Slip as Iran Tensions and Hot Inflation Data Pressure Wall Street 
Dollar Surges as Inflation Data Fuels Fed Rate Hike Expectations 
Oil Prices Hold Above $100 as Trump-Xi Meeting and Iran Conflict Keep Markets on Edge 
Trump Faces Uphill Battle Seeking China’s Help on Iran Conflict 
Australia Housing Tax Reform Sparks Debate Over Property Investor Tax Breaks 
Asian Currencies Hold Steady as Strong U.S. Inflation Data Boosts Dollar 
US Inflation Expected to Rise Again in April as Fed Signals Higher Interest Rates 
Gold prices remained largely unchanged during Asian trading on Thursday as investors awaited a highly anticipated meeting between U.S. President Donald Trump and Chinese President Xi Jinping in Beijing. Market participants are closely watching the summit for developments related to U.S.-China trade relations, the Iran conflict, and ongoing global supply chain disruptions.
Spot gold held steady at $4,691.12 per ounce, while U.S. gold futures slipped 0.2% to $4,697.97. The precious metal had already declined over the previous two sessions as traders adopted a cautious approach ahead of the talks between the world’s two largest economies.
Despite some support from geopolitical tensions in the Middle East, gold prices faced pressure from stronger-than-expected U.S. inflation data and a firmer U.S. dollar. Concerns surrounding disruptions near the Strait of Hormuz, a vital oil shipping route, continued to fuel fears of rising global energy costs and supply shortages.
Recent U.S. economic data showed producer prices rising at their fastest pace since 2022, while consumer inflation also accelerated due to higher energy prices linked to the Iran conflict. The inflation surge strengthened expectations that the Federal Reserve may keep interest rates elevated for a longer period, reducing demand for non-yielding assets such as gold.
Meanwhile, the U.S. Dollar Index hovered near a two-week high, making gold more expensive for international buyers and limiting further gains in bullion prices.
Oil prices staying above $100 per barrel also remained a major concern for financial markets, as investors worried prolonged supply issues in the Gulf region could intensify inflationary pressures worldwide.
In addition, India recently increased import duties on gold and silver to curb overseas purchases and protect foreign exchange reserves. The decision may weaken physical demand in one of the world’s largest gold-consuming countries.
Elsewhere in the precious metals market, silver gained 0.1% to $87.66 per ounce, while platinum rose 0.3% to $2,141.60 per ounce.
