Author: Fiona Craig

Gold prices edged higher in Asian trading on Friday, buoyed by renewed safe-haven demand after U.S. President Donald Trump unveiled fresh tariff measures. Geopolitical instability in the Middle East further supported gold’s modest rebound, although a strong U.S. Dollar capped broader gains across the precious metals complex.

The Dollar, on track to close the week stronger, limited gold’s upside, but silver and platinum continued to shine. Both metals outperformed gold significantly, with silver hitting its highest level in nearly 14 years and platinum approaching an 11-year peak, fueled by growing supply concerns and speculative buying.

Spot gold rose 0.5% to $3,341.27 an ounce, while September gold futures climbed 0.9% to $3,354.60 by 01:28 ET (05:28 GMT). Despite Friday’s gains, the metal remains rangebound, trading between $3,300 and $3,500 for most of the year amid uncertainty around U.S. interest rate policy.

Trump’s Tariff Threat and Middle East Tensions Drive Safe-Haven Demand

Trump’s announcement of a 35% tariff on Canadian goods—effective August 1 and higher than previously signaled—triggered risk aversion across markets. The unexpected escalation dealt a blow to improving trade relations with Ottawa and pushed investors toward traditional safe-haven assets, including gold and the Japanese yen.

In the Middle East, continued Israeli airstrikes on Gaza and lack of tangible progress in U.S.-brokered ceasefire talks kept geopolitical tensions elevated. These factors supported safe-haven flows but weren’t enough to offset gold’s sluggish overall weekly performance amid Dollar strength and rate speculation.

Silver and Platinum Outperform with Strong Weekly Gains

Silver and platinum remained the top performers among precious metals. Silver futures rose 2.2% to $38.14 per ounce, marking their third straight weekly gain and reaching their highest price since 2011. Platinum futures climbed 0.3% to $1,420.25 per ounce, putting the metal on track for a sixth consecutive weekly gain, fueled by bullish industry forecasts and tightening supply expectations.

Copper Slips After Stellar Run

In industrial metals, copper futures pulled back following a surge earlier in the week. COMEX copper fell 1.2% to $5.5620 per pound as traders locked in profits after Trump floated the possibility of a 50% tariff on the red metal. The previous rally had briefly driven prices to record highs. Meanwhile, benchmark copper on the London Metal Exchange held steady at $9,700.55 per ton.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

The British Pound continues to lose ground against the US Dollar, with GBP/USD falling for the sixth straight session, trading near 1.3560 during early Friday trading in Asia. The continued decline reflects persistent strength in the US Dollar, driven by evolving policy signals from Federal Reserve officials.

On Thursday, Chicago Fed President Austan Goolsbee dismissed calls for interest rate cuts aimed at easing the cost of US government borrowing, emphasizing that the central bank remains focused on employment and inflation. Meanwhile, the Federal Open Market Committee’s (FOMC) minutes from its June meeting revealed a cautious stance, with policymakers in no rush to adjust rates until further economic clarity emerges.

However, the Dollar’s momentum could face resistance if new US trade policies begin to weigh on sentiment. President Donald Trump announced a 35% tariff on Canadian imports starting August 1 and hinted at similar measures targeting the European Union, potentially curbing the Dollar’s rally.

The Pound, on the other hand, is also under pressure from mounting domestic economic risks. Market participants are awaiting the UK’s GDP data for May, which is expected to offer fresh insights into the economy’s health. Additionally, the Bank of England’s latest Financial Policy Committee (FPC) report issued a stark warning, citing elevated risks of market volatility, geopolitical instability, and fragmentation in global trade and finance.

The FPC stated that the likelihood of sharp asset price corrections and abrupt shifts in investment patterns remains high, largely due to rising sovereign debt stress and persistent geopolitical tensions—factors that continue to cast a shadow over the UK’s economic outlook.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Arc Minerals Ltd (LSE:ARCM) has finalized a binding settlement agreement with Avanti Gold Corporation and Regency Mining Ltd to resolve an outstanding receivable of USD 1.25 million. The agreement establishes a cash payment schedule with amounts varying depending on payment timing, providing a timely boost to Arc Minerals’ liquidity through 2026. This settlement follows constructive discussions and supports the company’s ongoing strategy to optimize cash management.

About Arc Minerals

Arc Minerals Ltd is a mining company focused on acquiring and developing mineral resources. Its key projects include the Misisi gold project located in the Democratic Republic of the Congo.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

abrdn European Logistics Income PLC (LSE:ASLI) has completed the sale of two multi-tenant warehouses in Germany for around €66.5 million, achieving a 10% premium compared to their valuation at the end of Q1 2025. This transaction aligns with the company’s ongoing managed wind-down plan, which involves divesting assets and returning net proceeds to shareholders. The firm is also in advanced talks to dispose of fifteen additional properties, with a second capital distribution anticipated by mid-August 2025. These asset sales will naturally reduce future income streams, likely leading to lower dividend payments going forward.

The company’s outlook is mixed, with steady yet historically fluctuating financial performance. Technical indicators reveal some positive momentum, although signs of overbought conditions persist. Valuation metrics remain elevated, highlighted by a high price-to-earnings ratio, while the dividend yield continues to offer some appeal. Recent corporate developments underscore strategic shifts that could influence future earnings and distributions.

About abrdn European Logistics Income PLC

abrdn European Logistics Income PLC specializes in investing across a broad portfolio of logistics real estate in Europe. The company targets high-quality warehouse properties situated in economically robust regions to benefit from increasing demand for modern logistics infrastructure.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Accesso Technology Group PLC (LSE:ACSO) has updated its revenue forecast for the first half of 2025, anticipating results at the lower range of prior guidance due to softer attendance figures at key venues. Nevertheless, the company remains confident in maintaining its cash EBITDA margin targets and is focusing efforts on delivering robust performance during the pivotal summer season. Renewal talks are ongoing with a major client, which will influence gross profit from 2026 onwards, though improved terms on other contracts demonstrate solid customer relationships. Additionally, Accesso reports an expanding sales pipeline and a higher commercial win rate, marked by significant new client acquisitions that indicate positive momentum for the remainder of the year.

Accesso Technology’s strong financial results and corporate developments contribute positively to its stock rating. However, mixed technical signals and a moderate valuation—driven by a lack of dividend payments and a relatively high price-to-earnings ratio—moderate investor enthusiasm. The company’s strategic initiatives, including a share repurchase program, underline confidence in its future growth trajectory.

About Accesso Technology Group

Accesso Technology Group PLC specializes in technology solutions tailored for the leisure, entertainment, and cultural sectors. The company’s offerings include advanced ticketing, point-of-sale, virtual queuing, distribution, and experience management software designed to enhance guest experiences and boost revenue for venue operators. Serving over 1,200 locations across 33 countries, Accesso leverages data-driven insights to optimize operations and improve customer satisfaction.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Polar Capital Holdings (LSE:POLR) announced an 8% increase in its Assets under Management (AuM), climbing from £21.4 billion to £23.2 billion in the quarter ending June 2025. This growth was fueled by positive fund performance and favorable market conditions, despite net outflows and a capital return following a tender offer by the Polar Capital Global Financials Trust. The company saw net inflows into funds such as Artificial Intelligence and Asian Stars, while experiencing outflows from its Technology fund. The successful tender offer marked the beginning of a new five-year term for the Global Financials Trust, which has seen notable net asset value growth over the last five years. Polar Capital remains confident in its long-term outlook, highlighting strong fund capacity and improving relative performance.

Financially, Polar Capital holds a strong position with solid profitability and a healthy balance sheet. However, recent declines in revenue and slower cash flow growth, alongside weak technical signals, indicate some potential headwinds. The stock’s undervaluation combined with an attractive dividend yield offers some offsetting appeal, making it a balanced consideration for investors.

About Polar Capital Holdings

Polar Capital Holdings plc is an active specialist asset manager focused on delivering diverse investment solutions. Operating across open-ended funds, investment trusts, and segregated mandates, the company emphasizes active management to achieve strong investment outcomes within the financial services sector.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Petro Matad Limited (LSE:MATD) has successfully raised approximately £2.84 million through a combination of share placing and subscription. The capital will be directed towards lowering operating expenses and conducting cost-effective testing at key wells, including Heron-1, Heron-2, Gazelle-1, and Gobi Bear-1. A portion of the funds will also support the company’s SunSteppe Renewable Energy joint venture and further exploration activities within Block VII. These investments are intended to accelerate project development, boost production capacity, and create greater value for shareholders.

About Petro Matad

Petro Matad is a Mongolia-based oil exploration company holding full working interest and operatorship in two Production Sharing Contracts with the Mongolian government. These contracts cover Block XX in the country’s far east and Block V in the central western region, focusing on oil resource development and production.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Premier Miton Group PLC (LSE:PMI) has reported a slight dip in Assets under Management (AuM), totaling £10.5 billion as of June 30, 2025, down from £10.7 billion a year earlier. Despite net outflows of £173 million, the firm recorded strong investment performance, with more than 70% of its funds outperforming the median benchmark. The company noted reduced withdrawals from its UK equity funds alongside robust returns from its European equity strategy. Additionally, the recent acquisition of a new institutional mandate and ongoing negotiations for another are expected to bolster future asset inflows. Market uncertainty driven by US tariff policies and tensions in the Middle East has impacted investor sentiment, though signs of stabilization may improve business prospects.

Premier Miton’s outlook reflects a blend of challenges and strengths. While revenue and profit pressures persist, the company’s solid cash flow and healthy balance sheet provide resilience. Technical indicators point to possible overbought levels, and valuation metrics suggest the shares may be priced above fair value despite an attractive dividend yield. Recent positive corporate developments help offset some financial and valuation concerns.

About Premier Asset Management

Premier Miton Investors specializes in delivering strong investment returns across a broad spectrum of strategies, including equities, fixed income, multi-asset, and absolute return funds.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Solvonis Therapeutics plc (LSE:SVNS) has received a £1 million capital injection from its major shareholders to fast-track its AI-enhanced drug discovery efforts. The funding will specifically support the development of treatments targeting major depressive disorder and stimulant use disorder. This investment strengthens Solvonis’ capacity to identify and validate promising early-stage candidates, aiming to meet growing global demand for innovative therapies in these expanding markets.

About Solvonis Therapeutics PLC

Solvonis Therapeutics is a clinical-stage biopharmaceutical company headquartered in London, listed on the London Stock Exchange’s main market. The company focuses on creating novel treatments for addiction and mental health conditions. Its pipeline includes repurposed and new compounds addressing high-need neuropsychiatric disorders such as Alcohol Use Disorder and Post-Traumatic Stress Disorder, with an emphasis on co-occurring and underserved mental health challenges.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Allergy Therapeutics (LSE:AGY) has granted 250,674,403 warrants to subscribe for new ordinary shares in connection with a £50 million loan facility arranged with SkyGem Acquisition Limited and Southern Fox Investments Limited. As part of the facility drawdown of £10 million, these warrants were issued to support the company’s financial strategy. Additionally, 674,403 warrants were issued to Hayfin Healthcare Opportunities LuxCo S.a.r.l. to address anti-dilution provisions.

This issuance forms a key component of Allergy Therapeutics’ approach to managing its debt obligations, although it may lead to an increase in the company’s share capital, potentially affecting market dynamics.

Despite ongoing financial challenges heavily influencing its stock outlook, technical indicators point to some upward momentum. Recent positive corporate developments offer a degree of optimism for future growth, though valuation concerns persist given the company’s negative earnings.

About Allergy Therapeutics

Allergy Therapeutics is a UK-based international biotech firm specializing in the development and distribution of aluminium-free immunotherapy vaccines aimed at treating allergic diseases. The company markets its products across nine major European countries and maintains licensing agreements in an additional ten territories.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.