Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Gold Falls Below $4,000 as Strong Dollar and Fed Rate Hike Expectations Weigh on Prices 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Australia Jobs Growth Strengthens Rate Hike Outlook 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
Gold and silver prices edged lower in Asian trading on Tuesday as investors booked profits after a strong rally, while global markets turned cautious ahead of critical U.S. economic data. The pullback comes after precious metals surged sharply over the past week, supported by a recent U.S. interest rate cut, dovish signals from the Federal Reserve, and growing macroeconomic uncertainty.
Spot gold slipped 0.4% to around $4,289 per ounce, while February gold futures fell 0.5% to near $4,315 per ounce. Despite the decline, gold prices remain near record highs, reflecting sustained demand for safe-haven assets amid concerns over global growth, U.S. fiscal health, and liquidity conditions. Spot silver saw a steeper drop, sliding nearly 2% to about $62.86 per ounce, as the metal appeared more vulnerable to profit-taking after posting multiple record highs last week. Silver futures also declined, though losses were relatively contained.
Other metals showed mixed performance. Platinum stood out as a notable gainer, rising more than 1% to an over 14-year high above $1,810 per ounce, driven by supply constraints and strong industrial demand. Meanwhile, copper prices weakened, with benchmark London Metal Exchange futures falling close to 1% to around $11,581 per metric ton, pressured by concerns over slowing Chinese economic growth.
Investor focus is now firmly on upcoming U.S. economic indicators, starting with nonfarm payrolls data, which is expected to signal further cooling in the labor market. This will be followed by U.S. consumer price index inflation data later in the week, a key input for Federal Reserve policy decisions. Labor market strength and inflation trends remain central to the Fed’s data-driven approach, and softer readings could reinforce expectations of lower interest rates.
Lower U.S. rates typically support non-yielding assets like gold and silver, helping explain their strong gains so far this year. Looking ahead, analysts at ANZ project that gold prices could surpass $5,000 per ounce in 2026, citing rising geopolitical risks, fiscal concerns in developed economies, and declining confidence in U.S. assets. While the pace of gains may slow after 2025’s rally, the broader outlook for precious metals remains bullish.
