US Stock Futures Steady as Cooling Inflation and Strong Earnings Support Markets 
US Stock Futures Mixed as Fed Rate Hike Bets Fade, AI Deals in Focus 
Oil Prices Rise as Iran-U.S. Tensions Threaten Strait of Hormuz Supply 
Gold Prices Rise as Weak US Data and Hormuz Risks Boost Safe-Haven Demand 
Canada Faces 50% U.S. Tariffs as Trade Tensions Threaten USMCA Talks 
Citadel Warns High Treasury Yields Pose Broader Market Risks 
Japan Economy Grows 1.1% in Q2 as Consumer Spending Stalls 
European Stocks Slide as Iran War Escalation Sends Oil Higher 
US Dollar Slips as Soft Economic Data Eases Fed Rate Hike Expectations 
Wall Street Falls as Oil Prices Rise, Fed Minutes and Retail Earnings in Focus 
US Eyes Refinery Boost as Trump Seeks Relief From High Gas Prices 
Asian Stocks Steady as Iran War Keeps Oil Prices and Inflation Risks Elevated 
Gold Prices Slide as Treasury Yields Surge, Fed Minutes in Focus 
Colombia Earthquake Losses Estimated at $9.58 Billion as Reconstruction Challenge Mounts 
Dollar Slides as Soft U.S. Data Cuts Fed Rate Hike Bets 
Morgan Stanley Sees Fed Holding Rates as U.S. Inflation Cools 
UK Wage Growth Holds at 3.5% as Unemployment Rises 
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Gold prices edged lower in Asian trading on Thursday as risk appetite slightly improved following U.S. President Donald Trump’s comments that it was “highly unlikely” he would fire Federal Reserve Chair Jerome Powell. The reassurance tempered some market fears, reducing safe-haven demand and lifting U.S. equities.
Spot gold dipped 0.2% to $3,342.09 per ounce, while September gold futures fell 0.3% to $3,348.40. Despite the pullback, underlying demand for gold remained supported by persistent uncertainty surrounding Trump’s upcoming tariff plans, which are expected to be enacted in just over two weeks.
Broader precious metals also showed resilience. Platinum inched up to $1,424.55 per ounce, holding above the key $1,400 level, which analysts at ANZ said could indicate further strength. Spot silver gained 0.2% to $37.9945 per ounce. Copper prices were mixed, with LME benchmark futures steady at $9,629.75 per ton and COMEX copper rising slightly to $5.5267 per pound.
The U.S. dollar remained firm near a three-week high, buoyed by sticky inflation data that dampened expectations for near-term rate cuts. Both consumer and producer price indices for June came in hotter than anticipated, reinforcing bets that the Fed will hold interest rates steady at its next meeting. Upcoming U.S. retail sales and jobless claims data are expected to offer further clues on the economic outlook.
Trump’s ongoing criticism of Powell has fueled market anxiety, but his latest comments eased concerns slightly. Still, Trump warned that firing Powell could still be on the table if fraud is found in the Fed’s renovation project. Meanwhile, the Fed has signaled a cautious approach, awaiting further clarity on inflation impacts from Trump’s trade measures.
