South Korea Exports Surge in January on AI Chip Demand, Marking Fastest Growth in 4.5 Years 
Wall Street Slides as Warsh Fed Nomination, Hot Inflation, and Precious Metals Rout Shake Markets 
Russia Stocks End Flat as MOEX Closes Unchanged Amid Mixed Global Signals 
Dollar Holds Firm as Markets Weigh Warsh-Led Fed and Yen Weakness Ahead of Japan Election 
India Budget 2025 Highlights Manufacturing Push but Falls Short of Market Expectations 
U.S. Stock Futures Slip as Markets Brace for Big Tech Earnings and Key Data 
China Home Prices Rise in January as Government Signals Stronger Support for Property Market 
China Manufacturing PMI Slips Into Contraction in January as Weak Demand Pressures Economy 
Philippines Manufacturing PMI Hits Nine-Month High Despite Weak Confidence Outlook 
JPMorgan Lifts Gold Price Forecast to $6,300 by End-2026 on Strong Central Bank and Investor Demand 
U.S. Eases Venezuela Oil Sanctions to Boost American Investment After Maduro Ouster 
UK Employers Plan Moderate Pay Rises as Inflation Pressures Ease but Persist 
U.S. Government Faces Brief Shutdown as Congress Delays Funding Deal 
IMF Forecasts Global Inflation Decline as Growth Remains Resilient 
Canada’s Trade Deficit Jumps in November as Exports Slide and Firms Diversify Away From U.S. 
Gold prices remained largely unchanged in Asian trade on Friday, poised for a third consecutive weekly decline as a stronger U.S. dollar outweighed safe-haven demand driven by escalating trade tensions.
Spot gold edged up 0.2% to $3,396.25 an ounce, while gold futures held steady at $3,348.10 per ounce by 01:58 ET (05:58 GMT). The U.S. Dollar Index climbed to its highest in over two months and is on track for its best weekly performance in nearly three years, following the Federal Reserve’s decision to keep interest rates unchanged. A firmer dollar typically makes gold more expensive for international buyers, reducing demand.
Investor sentiment was further pressured by renewed trade uncertainty after President Donald Trump signed an executive order introducing steep “reciprocal tariffs” on imports from more than a dozen countries. The new tariffs, effective August 1, range from 15% on South Korean goods to 25% on Indian exports. Additionally, Trump raised tariffs on Canadian goods to 35% from 25%, citing Canada’s insufficient action on fentanyl shipments.
While heightened trade tensions usually support safe-haven assets like gold, the dollar’s rally capped potential gains.
In other precious metals, platinum futures rose 0.4% to $1,298.35 per ounce, while silver futures dipped 0.1% to $36.68. On the industrial metals front, benchmark copper futures on the London Metal Exchange gained 0.5% to $9,655.95 a ton, though U.S. copper futures eased 0.2% to $4.423 a pound after plunging 19% earlier in the week when refined copper was excluded from planned tariffs. Starting August 1, a 50% tariff will apply to semi-finished copper products but not to ores, concentrates, or cathodes.
