Gold and silver extended their declines, with MCX gold for August down 2.06% on the week and MCX silver for September falling 6.4%. Overseas, Comex gold slid 3.5% to $4,096.3 per ounce, while silver dropped 10.7% to $59.67 per ounce. A stronger US dollar and a near-10% fall in crude oil eased inflation concerns and reduced bullion’s appeal as a hedge, while escalating US-Iran tensions provided only limited support, according to analysts cited by PTI.

Gold and silver could remain under pressure next week, as a stronger U.S. dollar, rising Treasury yields and a sharp pullback in crude oil—nearly 10%—dilute their inflation-hedge appeal. Last week, gold and silver futures fell 2.06% and 6.4%, while Comex gold slid 3.5% to $4,096.3 per ounce. Analysts said geopolitical risks may offer some support, but macro headwinds are expected to dominate.

Anthropic alleges that Alibaba distilled its Claude frontier model via API access, highlighting a gap in U.S. export controls over cloud-based access to advanced AI. The company is lobbying Congress to tighten rules, backing Rep. Michael Lawler’s Remote Access Security Act, which would target foreign entities that access sensitive AI through cloud services on a “purposeful, knowing, reckless, or negligent” basis. The bill remains stuck in committee, though Anthropic’s latest allegations could increase its chances of moving forward. The episode is not tied to any confirmed IPO timetable or financial disclosures and is not presented as directly linked to prices of any listed tradfi assets.

Prime Minister Narendra Modi on May 10 urged Indians to defer buying gold and taking overseas vacations for a year to conserve foreign exchange. In the same month, the government raised the import duty on gold and silver to 15% from 6%. By June 28, India’s 24K gold price had fallen by Rs 13,267 per 10 grams to Rs 1,39,873, and silver was down Rs 45,809 per kilogram to Rs 2,16,541. The measures have weighed on demand and import momentum for precious metals.

US consumer spending remained strong even as prices rose and new-home sales fell to the lowest level since the start of the year. President Donald Trump ordered the Department of Justice to examine gasoline prices after questioning why pump prices aren’t dropping as quickly as oil costs. The conflict involving Iran has kept energy costs elevated, and summer demand plus fuel-blend requirements have also slowed the decline in gasoline prices. Over the longer run, extreme heat and drought could lift global inflation.

South Korea’s average retail gasoline price fell below 2,000 won per litre on June 27 for the first time in nearly two months, reaching 1,991.1 won, while diesel dropped to 1,982.3 won per litre. The decline follows a government move to cut the fuel price ceiling, including a 150 won reduction in the cap for regular gasoline to 1,784 won per litre, after Dubai Crude slid 34.3% over the past month from US$98 per barrel on May 26 to $64.4 Thursday. Analysts expect pump prices to ease gradually over the next two to three weeks, though a weaker won and a rebound in refined product prices could limit further declines.

MicroStrategy (NASDAQ:MSTR) shares fell from a 2024 November high of $543 to $82, cutting its market capitalization from $128 billion to $28 billion. The company’s Bitcoin holdings face a larger unrealized loss, with an average cost of $64,000 versus a current BTC price of about $60,000. Total debt has risen to more than $8 billion, and the company recently sold 32 bitcoins for the first time in years, raising concerns about liquidity and further sales.

FedEx executives said freight demand has not shown any “demand destruction” in the latest earnings call. The company reported strong revenue growth in the most premium segments of the global economy. They also pointed to inventory rebuilding and early time-critical shipments turning into repeatable revenue streams as signs of steady customer spending. FedEx added that AI and data centers are emerging as a rapidly scaling growth engine, delivering double-digit revenue growth.