Support
Gold Surges Then Crashes in Whiplash Move
President Trump hinted at an imminent trade announcement involving a “highly respected country,” stirring speculation and market watchfulness
Markets Steady After Fed Holds Rates
Gold Retreats from Session Highs
After spiking near $3,414, gold reversed sharply
US Market
The Federal Reserve left its benchmark interest rate unchanged at 4.25%–4.50%, sticking to its cautious tone. Chair Jerome Powell reiterated that there’s no urgency to ease policy, emphasizing that the U.S. economy remains resilient and that policymakers are still weighing divergent paths ahead - with rate cuts this year still on the table, but far from guaranteed.
Meanwhile, the Trump administration signaled a dramatic policy shift by proposing the rollback of certain chip export restrictions enacted under the Biden era. This announcement adds a new layer to the ongoing tech standoff with China and has implications for semiconductor and AI-related trade flows.
Commodities
Gold gave up early gains after touching the $3,414 zone during Asian trade. The retreat came as bond yields found support and the dollar held firm following the Fed’s hawkish pause. While some traders booked profits, geopolitical tensions - from the Middle East to Eastern Europe and South Asia - continue to offer underlying support for the metal. Still, with risk appetite holding up, gold’s momentum faces short-term headwinds.
Currencies
EUR/USD managed to bounce slightly after dipping overnight but continues to hover near the lower end of its recent range. Traders are largely sidelined ahead of fresh catalysts, keeping the pair around the 1.1300 level.
Elsewhere, markets are awaiting a scheduled press conference from President Trump, where he hinted at revealing details of a “significant trade agreement” with what he described as a “highly respected nation.” While details remain scarce, such headlines continue to inject volatility into trade-sensitive assets.
