South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Gold and silver prices declined sharply in early Asian trading on Friday, extending steep losses from the previous session as profit-taking, a stronger U.S. dollar, and easing geopolitical tensions continued to pressure precious metal markets. Silver remained the weakest performer after suffering a dramatic selloff on Thursday, while gold retreated significantly from its recent all-time high.
Spot gold fell 0.6% to $4,751.13 per ounce, while April gold futures dropped 2.5% to $4,766.11 per ounce. The yellow metal is now trading nearly $1,000 below the record levels reached just last week, marking a notable reversal after months of strong gains driven by safe-haven demand and central bank buying. Meanwhile, spot silver slid 2.2% to $69.383 per ounce, holding above Thursday’s low near $63, while silver futures plunged 8.1% to $70.378 per ounce.
Analysts at OCBC highlighted that silver’s current price range between $70 and $90 represents a crucial stabilization zone. According to the analysts, a sustained break below this area could trigger a deeper correction toward the $58–$60 range. However, if prices manage to hold within this band, bullish momentum could rebuild later as market conditions stabilize.
Other precious metals were also under pressure, with spot platinum tumbling 7.2% to $1,853.81 per ounce, reflecting the broader weakness across the metals complex. The selloff follows an extended rout that began last week after U.S. President Donald Trump nominated Kevin Warsh as the next Federal Reserve chairman, replacing Jerome Powell. Warsh is widely perceived as less dovish, fueling expectations of tighter monetary policy and driving a strong rebound in the U.S. dollar.
The dollar index is now on track for its best weekly performance since early October, further weighing on gold and silver prices, which typically move inversely to the greenback. Additionally, easing geopolitical tensions between the U.S. and Iran reduced safe-haven demand, as the two countries are scheduled to hold talks in Oman.
With the dollar firm and risk sentiment improving, gold and silver may remain volatile in the near term as investors reassess monetary policy expectations and geopolitical risks.
