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NEW YORK / RankWire.AI/ – On Friday, precious metals markets worldwide moved lower, with spot gold prices declining and heading toward a weekly downturn. According to market data, the price of spot gold fell 0.5 percent to trade at $4,326.75 per ounce, while United States gold futures for December delivery decreased nearly 1.0 percent to $4,382.50 per ounce. These declines followed a brief, sharp rally on Thursday, when bullion prices reached their highest levels in over two months before retreating 1.3 percent amid rapid profit taking. Commercial trading firms execute high volume order transactions across international exchanges. Market observers linked the price corrections primarily to recent macroeconomic data releases from the United States. Softer-than-anticipated consumer price index figures alleviated fears of persistent inflation, thereby reversing the momentum that had pushed gold to multi-month highs earlier in the week. As these lower inflation numbers dampened expectations for aggressive interest rate hikes by the Federal Reserve, institutional traders began locking in gains, leading to declines in spot prices across global commodity markets. Although long-term demand for safe haven assets like gold remains fundamentally solid, short-term trading activity has been driven by portfolio adjustments. The swift move from Thursday’s multi-month peak to Friday’s lower range highlighted increased volatility, fueled by shifting interest rate forecasts. According to analysts at Sucden Financial, while overall market trends stay supportive, gold is heading for a weekly loss as investors unwind inflation-driven rally positions in short-term
Global electric vehicle sales rose 9% year on year in July 2026 to 1.85 million units. Among the major EV markets, Europe experienced the most substantial growth in July. Sales of electric vehicles increased by 33% from the same month a year earlier, reaching approximately 450,000 units. The region’s sales during the first seven months of 2026 also grew by 28%. France saw an 81% annual surge in July and achieved a 37% EV penetration rate. Germany’s sales rose by 46%, while the United Kingdom reported a 43% increase.
South Korea’s vehicle exports hit a new high for July, totaling US$6.24 billion, reflecting a 7.0% increase compared to the same month last year. This record-breaking figure surpasses the previous July record of US$5.90 billion set in 2023, according to the Ministry of Trade, Industry and Resources. In comparison, exports in July 2025 amounted to US$5.83 billion. Domestic vehicle sales also saw a slight rise of 0.5%, reaching 139,000 units, while production increased by 11.3% to 352,000 vehicles.
Gold extended its upward momentum for a third consecutive session on Tuesday, building on last week’s notable rebound. Spot gold increased 1% to $4,432.74 an ounce by 0217 GMT, reaching its highest point since June 5 and surpassing the seven-week peak established last week. Meanwhile, U.S. gold futures advanced 1.7% to $4,492.60. These gains followed a pattern of rising prices on Friday and Monday, as global bullion markets responded to U.S. economic indicators and anticipated interest rate moves.
Denmark’s July inflation slowed to 1.7% as consumer price growth eased from June. The consumer price index for July reached 102.92, with 2025 set as the baseline index of 100. Holiday home rentals and package holidays contributed 1.24 percentage points to the monthly increase. Food prices accounted for an additional 0.15 percentage point. Conversely, declines in clothing, hotel accommodation, and footwear prices collectively reduced the monthly inflation rate by 0.34 percentage point.
According to a recent analysis by Triodos Bank, Europe’s scorching summer temperatures and persistent drought conditions may lead to a 1% contraction in EU economic output in 2026. This estimated decline, approximately €180 billion, is nearly equal to the European Commission’s current projection for the region’s growth. The Commission had forecasted a 1.1% rise in EU gross domestic product for this year in May. The comparison underscores the magnitude of weather-related damages highlighted in the bank’s findings.