Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Oil Prices Surge as U.S.-Iran Diplomacy Hopes Fade 
Russian Envoy Dmitriev Heads to US for Ukraine Talks 
Wall Street Falls as Treasury Yields Surge, Oil Rebounds on Iran Tensions 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
US, China Extend Trade Truce to Jan. 10 Ahead of Trump-Xi Summit 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
China’s ‘Lipstick King’ Says AI Won’t Replace Livestream Hosts 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
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Gold prices climbed sharply on Wednesday, nearing a three-week high after President Donald Trump announced a temporary ceasefire with Iran, easing geopolitical tensions that had been gripping global markets. Spot gold gained 1.6%, trading at $4,778.95 per ounce as of 05:46 ET, after touching its strongest level since March 19. June gold futures advanced even further, rising 2.6% to $4,807.34 per ounce.
The ceasefire came after Pakistan brokered last-minute diplomatic negotiations. Trump announced via social media that military operations against Iran would be paused for two weeks, stating that the U.S. had already met its primary military objectives. The temporary truce is tied to Iran guaranteeing the safe reopening of the Strait of Hormuz, a critical global shipping lane responsible for approximately 20% of worldwide oil flows. Iran indicated a conditional willingness to allow safe passage through the strait, provided hostilities ceased and vessels coordinated with Iranian maritime authorities.
Financial markets responded quickly to the news. Oil prices tumbled more than 15% as supply disruption fears faded, while risk assets rallied broadly. The U.S. dollar index weakened, making gold more affordable for international buyers and adding further upward momentum to bullion prices.
Gold had previously faced headwinds last month when surging oil prices ignited inflation concerns, leading investors to anticipate that the Federal Reserve might keep interest rates elevated for a prolonged period. Since gold typically underperforms in high-rate environments, rising energy costs had temporarily weighed on the precious metal's appeal.
Investors are now watching closely for Friday's U.S. Consumer Price Index report for March, which is expected to shed light on how higher fuel costs have filtered into broader inflation. Economists anticipate headline inflation accelerated monthly, a development that could further complicate the Federal Reserve's monetary policy path going forward.
