Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Gold prices extended gains in Asian trading on Tuesday, marking a fourth consecutive session of advances as investors reacted to escalating geopolitical tensions in the Middle East. Safe-haven demand remained strong, although a firmer U.S. dollar limited further upside in the precious metals market.
Spot gold climbed 1.1% to $5,378.55 per ounce by 20:26 ET (01:26 GMT), while U.S. gold futures jumped 1.5% to $5,390.06. The yellow metal had already gained 1% in the previous session, reflecting sustained investor interest amid rising global uncertainty.
The rally in gold prices was largely driven by intensifying conflict in West Asia. Over the weekend, U.S. and Israeli forces carried out large-scale military strikes on Iran, reportedly killing Supreme Leader Ayatollah Ali Khamenei and several senior commanders. In response, Iran launched missile attacks across the region, raising fears of a prolonged and wider conflict. Israeli strikes on Lebanon following Hezbollah attacks, along with reports of Kuwaiti air defenses mistakenly downing U.S. jets, further heightened regional instability.
U.S. President Donald Trump indicated that military operations could continue for several weeks, acknowledging uncertainty within Iran’s leadership after Khamenei’s death. The growing risk of extended geopolitical turmoil has reinforced gold’s role as a safe-haven asset during times of crisis.
Additional support for bullion came from surging oil prices. Iran has threatened to target vessels transiting the Strait of Hormuz, a critical route for global oil supplies. Concerns over potential supply disruptions have lifted crude prices and fueled inflation expectations, both of which typically benefit gold.
However, gains in gold were partially capped by a stronger U.S. dollar. The U.S. Dollar Index rose 0.2% during Asian hours after surging 0.8% in the previous session to its highest level since late January. A stronger greenback makes gold more expensive for international buyers, tempering demand.
In other precious metals trading, silver rose 1.6% to $90.75 per ounce, while platinum added 0.5% to $2,321.06 per ounce, reflecting broader strength across the commodities market.
