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Gold prices held ground on Monday, buoyed by a weaker dollar and Treasury yields after U.S. Federal Reserve Chair Jerome Powell’s dovish remarks cemented expectations for a September rate cut.

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Lim Hui Jie

Key Points

• Investors in Asia assessed dovish comments by U.S. Federal Reserve Chairman Jerome Powell, and rising Middle East tensions as Israel and Hezbollah traded strikes.
• China’s central bank will release its medium-term lending rate on Monday, while Singapore will publish its manufacturing data for July.

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Karen Gilchrist@_karengilchrist

LONDON — European stocks were higher Friday as investors looked ahead to U.S. Federal Reserve Chair Jerome Powell’s speech later in the session from Jackson Hole, Wyoming.

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Gold prices inched up on Friday but were set for a weekly decline after slipping from record highs, as the U.S. dollar and Treasury yields rebounded ahead of Federal Reserve Chair Jerome Powell’s speech that could give clues on interest rate cuts.

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Lim Hui Jie

Key Points

• Japan’s headline inflation came in at 2.8%, unchanged from the month before.
• However, the so called “core-core” inflation rate, which strips out prices of both fresh food and energy and is tracked by the Bank of Japan, fell to 1.9% in July, down from 2.2%.
• This is the lowest the “core-core” inflation rate has reached since September 2022.

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Gold prices regained lost ground on Wednesday to hover close to their all-time highs after minutes from the U.S. Federal Reserve’s last meeting showed officials strongly leaned towards an interest rate cut at their September policy meeting.

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Lim Hui Jie

Key Points

• The Bank of Korea held its benchmark interest rate at 3.5%, in line with expectations.
• Investors digested business activity data from Australia and Japan and awaited PMI numbers from India.

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Jenni Reid

LONDON — European stocks are heading for a higher open Wednesday, rebounding as investors await commentary on the inflation and interest rate outlook from the U.S. Federal Reserve.

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Gold prices were trading below record high levels on Wednesday after a rally fueled by Western fund inflows and U.S. rate-cut optimism, as investors braced for minutes of the Federal Reserve’s latest meeting for clarity on the depth of cuts.

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Lim Hui Jie

Key Points

• Japan’s July exports rose 10.3% year on year and imports rose 16.6% in the same period, compared to expectations of a 11.4% rise for exports and a 14.9% growth for imports.
• It was the last month of trade data recorded before the Bank of Japan’s move to raise interest rates at the end of July, which caused the yen to strengthen dramatically.

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