EUR/USD
1.17061
0.051%
Gold
3270.50
-1.722%
Oil
64.542
-0.273%
USD/JPY
144.746
0.240%
GBP/USD
1.37063
-0.161%
GBP/JPY
198.398
0.124%
Real-time News
June 28, UBS said that gold has been the leader among global major assets so far in 2025. With the continued purchase of gold by central banks and the increase in exchange-traded funds (ETFs), data from the European Central Bank showed that gold has surpassed the euro to become the worlds second largest reserve asset after the US dollar. Although gold prices have fallen slightly from their historical highs as optimistic expectations that the most severe phase of the trade war may end have increased, we are still optimistic about the long-term value of gold. We believe that the downward trend in real interest rates, the weakening of the US dollar, the high geopolitical risk premium, and the structural shift in institutional gold purchases will continue to support gold prices. For example, data from the World Gold Council shows that the average annual gold purchases of central banks in the past three years have exceeded 1,000 tons-more than double the average level of the previous decade.Polish Presidential Office: Polish President Duda arrived in Kiev to meet with Ukrainian President Zelensky.On June 28, local time, the Israeli Defense Forces said that they had detected a missile coming from Yemen. Subsequently, air defense alarms were sounded in many places in southern Israel, including the Negev region. The Israeli army said that the missile was "very likely" to have been successfully intercepted. Nasreddin Amir, an official of the Yemeni Houthi armed forces press office, later posted on social media that Israels aggression against the Gaza Strip has not stopped and the suffering of the people of Gaza is still worsening. Therefore, the Houthi armed forces will continue to attack Israel to the best of their ability.On June 28, the Republican-controlled Senate of the United States released a new version of a $4.2 trillion tax and spending plan, and the voting process is about to start as the July 4 deadline set by Trump approaches. The new draft reflects the compromise of various factions within the Republican Party. Previously, there were differences within the party on the extent of cuts to social security programs such as Medicaid and the speed of phasing out the renewable energy tax credit policy during the Biden administration. The draft includes a temporary agreement reached with House Republicans to increase the state and local tax (SALT) deduction limit from $10,000 to $40,000 for five years, after which it will be restored to the original standard. Republicans plan to start the voting process for the tax reform bill as early as noon local time on Saturday, and the final vote may be scheduled in the early hours of Sunday. Party leaders plan to recall House members early next week in order to complete the legislative process before the Independence Day deadline set by Trump.U.S. Senate Budget Committee: Senate Republicans plan to end electric vehicle tax credits by the end of September.
