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Gold prices climbed sharply in Asian markets on Tuesday, driven by increased demand for safe-haven assets as investors grapple with uncertainty surrounding U.S. trade negotiations ahead of President Donald Trump’s looming July 9 tariff deadline. A softer U.S. dollar further boosted the precious metal’s appeal.

Spot gold gained 0.8%, reaching $3,328.71 per ounce, while August gold futures rose 1% to $3,339.70 by early Tuesday morning ET (06:10 GMT). This came on the heels of a 1.5% rise the previous day, recouping much of last week’s losses following the Israel-Iran ceasefire.

Safe-Haven Demand Rises as Tariff Deadline Approaches

The upcoming expiration of a 90-day tariff pause on July 9 has investors on edge. Since the pause began on April 2, the U.S. has finalized only two trade agreements—with China and the UK. Nations without a deal by the deadline risk having reciprocal tariffs reinstated, potentially up to 50%.

According to a Tuesday report by the Financial Times, U.S. trade officials are now focusing on narrower, more targeted agreements to secure quick progress before the deadline. The administration is also still weighing tariffs on several critical sectors.

Adding to market tensions, President Trump has threatened new tariffs on Japan, while U.S. Treasury Secretary Scott Bessent warned that despite ongoing negotiations, many countries could still face steep tariff hikes. Bessent expressed optimism that a flurry of trade deals might still be reached ahead of the cutoff.

This mix of uncertainty and potential for new tariffs has driven investors toward traditional safe-haven assets like gold.

Metals Markets React to Dollar Weakness and Positive Data

The U.S. Dollar Index remained weak during Asian trading, hovering near three-year lows, which supported gains in precious metals.

Silver futures inched up 0.4% to $36.00 per ounce, while platinum futures slipped 0.4% to $1,360.45. Copper also posted gains: London Metal Exchange copper futures rose 0.2% to $9,839.95 per ton, and U.S. copper futures climbed 1.2% to $5.1145 per pound.

The rally in copper was bolstered by a private survey revealing unexpected expansion in China’s Caixin manufacturing PMI for June. This improvement in trade conditions lifted sentiment in the world’s largest consumer of copper.

Oil prices dropped on Tuesday to their lowest point in three weeks, returning to levels last seen before the recent conflict between Israel and Iran. This decline is driven by easing worries over supply disruptions and anticipation of an upcoming production increase from OPEC and its allies.

Brent crude for September delivery dipped 0.3% to $66.57 per barrel, while West Texas Intermediate futures also fell 0.3%, settling at $63.64 per barrel as of 9:17 PM ET. Brent prices hit their lowest mark since June 11, just prior to the outbreak of hostilities in the Middle East.

A ceasefire agreement between Israel and Iran appears to be holding, helping to ease tension in the oil markets.

Investor attention is now focused on the Organization of the Petroleum Exporting Countries and its partners, collectively known as OPEC+, who are expected to convene later this week. The group is widely anticipated to continue its gradual rollback of production cuts that have been in place for two years.

Recent reports suggest that OPEC+ plans to boost output by approximately 411,000 barrels per day in August, following similar incremental increases in May, June, and July. This would bring the total increase for 2025 to around 1.78 million barrels per day. However, this production boost remains smaller than the volume cut by the alliance during the past two years.

The expected increase signals a shift towards raising supplies in response to sustained pressure from weaker oil prices. Leading producers within OPEC+, including Saudi Arabia and Russia, are also keen on maintaining discipline within the group to prevent excessive production that could further depress prices.

Meanwhile, market jitters persist over US trade policies, with the looming July 9 deadline set by President Donald Trump to secure new trade agreements. On Monday, Trump criticized Japan over its rice import policies and suggested that trade negotiations with Tokyo might be terminated.

US Treasury Secretary Scott Bessent also warned that, despite ongoing talks, some countries—including Japan and India—could face tariffs exceeding 20%. This has raised concerns that escalating trade tensions could dampen global economic growth and, consequently, reduce demand for oil.

Tesla Inc (NASDAQ:TSLA) experienced a notable decline in premarket trading on Tuesday, as tensions reignited between U.S. President Donald Trump and Tesla CEO Elon Musk. Trump accused Musk of receiving disproportionate government subsidies and called for a federal review of Tesla’s support.

According to 24-hour trading data from Robinhood (NASDAQ:HOOD), Tesla’s shares tumbled as much as 6.4%, falling to $297.35.

On his social media platform Truth Social, Trump urged the Department of Government Efficiency (DOGE) to investigate the extent of federal assistance granted to Tesla. He cautioned, “Elon may get more subsidy than any human being in history.”

Trump further asserted, “Without subsidies, Elon would probably have to close up shop and head back home to South Africa.”

Elon Musk responded swiftly on X, declaring, “I am literally saying CUT IT ALL. Now.”

The conflict between Trump and Musk largely centers on Musk’s vocal opposition to a sweeping tax and spending cut bill that Trump supports and which is currently under Senate consideration.

Musk’s objections focus on the bill’s potential to significantly increase federal debt and expenditures. He also warned that it could hinder his ongoing efforts with the Department of Government Efficiency to reduce government spending.

Independent analysis suggests that the bill could add $3.3 trillion to the national debt over the next decade if passed in its current form.

Musk has repeatedly condemned the legislation as overly large and inefficient. His stance was a key factor in a public fallout with Trump in early June, which culminated in Musk stepping down from his role at DOGE.

Mpac Group PLC (LSE:MPAC) has issued a trading update revealing that US tariffs and economic uncertainty have caused a significant slowdown in order intake during Q2 2025. In response, the company is fast-tracking its consolidation efforts in the US to optimize costs and enhance operational efficiency. This includes closing its Cleveland facility and reducing capacity in Canada. Despite these headwinds, Mpac remains focused on protecting operating margins and has taken steps to manage debt and maintain cash flow.

Outlook

The company faces financial challenges such as declining free cash flow and higher leverage. Technical indicators point to bearish momentum. While recent corporate actions are positive, they do not significantly affect the overall score.

About Mpac Group PLC

Mpac Group PLC specializes in high-speed packaging and automation solutions worldwide, delivering innovative equipment and services designed to optimize production processes across multiple industries.

Burford Capital (LSE:BUR) reported two key developments affecting its operations. The US Senate Parliamentarian ruled that proposed tax provisions concerning litigation finance cannot be included in the budget reconciliation bill, potentially impacting Burford’s financial planning and strategies. Separately, a US District Court ordered Argentina to transfer a substantial portion of its YPF shares into a global custody account, marking progress in Burford’s ongoing enforcement efforts against Argentina. However, further legal proceedings are expected.

Outlook

Burford Capital maintains a strong financial position and recent earnings have been positive. However, technical indicators suggest bearish trends, and the company faces some regulatory uncertainties. Valuation remains fair, but low dividend yield and operational risks temper the outlook. Nonetheless, ongoing corporate developments support a cautiously optimistic stance.

About Burford Capital

Burford Capital is a global leader in finance and asset management focused on the legal sector. It specializes in litigation finance, risk management, asset recovery, and legal advisory services. Listed on both the New York and London Stock Exchanges, Burford operates through a worldwide network serving corporations and law firms.

Kitwave Group PLC (LSE:KITW) reported a 26.7% rise in revenue, reaching £376.2 million for the six months ending April 2025, fueled by strategic acquisitions and investments in infrastructure. While the company achieved record revenue and operating profits, it has tempered profit forecasts for the year due to rising operational costs, macroeconomic pressures dampening consumer confidence, and increased employer National Insurance contributions.

The recent acquisition of Creed Foodservice and the launch of a new distribution center in the South West have bolstered Kitwave’s market position. However, the company expects these challenges to impact overall financial performance in the short term. Despite this, Kitwave remains optimistic about its long-term strategy, emphasizing service-driven growth supported by a solid balance sheet.

Outlook

Kitwave’s outlook is underpinned by strong financial results, positive technical signals, and ongoing corporate developments. Its growth prospects benefit from strategic acquisitions and confident leadership, though careful management of debt and cash flow will be essential to sustain momentum.

About Kitwave Group PLC

Kitwave Group PLC is a UK-based delivered wholesale business specializing in the distribution of impulse products, frozen, chilled and fresh foods, alcohol, groceries, and tobacco. Serving around 46,000 mainly independent customers—including convenience stores, leisure venues, vending operators, and foodservice providers—Kitwave operates through a network of 37 depots across the UK. The company has expanded through a combination of organic growth and strategic acquisitions of complementary businesses.

J Sainsbury plc (LSE:SBRY) has announced its highest market share in nearly a decade, driven by a compelling value proposition, quality products, and excellent customer service. The retailer’s Q1 trading update reveals a 4.9% rise in total retail sales, with notable gains across grocery and clothing categories.

Sainsbury’s success is attributed to its focus on competitive pricing, improved product ranges, and enhanced customer satisfaction. The company is also advancing its digital and loyalty initiatives, including the upcoming launch of its retail media platform, Nectar360 Pollen, set for later this year. These strategic moves are expected to reinforce Sainsbury’s market position and support ongoing growth.

Stock and Market Outlook

Sainsbury’s shares benefit from solid technical indicators and well-planned growth strategies. Although moderate valuation levels and grocery inflation present challenges, the company’s continued investments and shareholder-friendly actions, such as share buybacks, have a positive impact on investor sentiment.

About J Sainsbury plc

J Sainsbury plc is a leading UK retailer operating supermarkets, convenience stores, and an online platform. It offers a broad product range, including fresh foods, clothing, and household goods. Renowned for its commitment to value, quality, and service, Sainsbury’s competes with other major grocers through initiatives like the Aldi Price Match program.

SSEN Transmission (LSE:SSE) has submitted its response to Ofgem’s Draft Determination for the RIIO-T3 price control period, highlighting the importance of sustained investment in the electricity transmission network to meet the UK’s national energy targets. While recognizing some positive aspects in the draft, SSEN Transmission expressed concerns that the current framework falls short of enabling the scale of investment required to deliver a clean, reliable, and affordable power system by 2030.

The company is committed to collaborating with Ofgem and key stakeholders to help shape the final determination, ensuring it adequately supports infrastructure development needed for the UK’s low-carbon transition and energy security.

Financial and Market Position

SSE benefits from a solid financial foundation, appealing valuation, and strategic corporate initiatives. Technical indicators indicate upward momentum, though caution is warranted due to potential overbought signals. Challenges such as revenue growth constraints and elevated debt levels pose risks, but SSEN Transmission’s dedication to clean energy investments and cost efficiency underpins a positive medium-term outlook.

About SSEN Transmission

Headquartered in Perth with offices across Aberdeen, Inverness, and Glasgow, SSEN Transmission operates the electricity transmission network serving northern Scotland. The company plays a vital role in the UK’s transition to a low-carbon economy by developing infrastructure to connect and transmit renewable energy. Ownership is split between SSE plc (75%) and the Ontario Teachers’ Pension Plan Board (25%), reflecting strong institutional backing.

Mercia Asset Management PLC (LSE:MERC) has announced a 37% increase in EBITDA for the year ending March 31, 2025. This strong financial performance has led to a proposed 5% rise in the final dividend and the launch of a £3 million annual share buyback program. The company’s assets under management have grown to £2 billion, driven by a combination of organic fund inflows and strategic acquisitions.

Looking ahead, Mercia aims to double its size and financial results by 2027, focusing on expanding its fund management business while gradually divesting direct investments to enhance shareholder value.

Outlook

While Mercia benefits from a strong balance sheet and positive corporate developments, it faces challenges including declining revenues and profitability pressures. Technical indicators currently show bearish trends, and valuation is affected by negative earnings. Nevertheless, ongoing corporate initiatives and a solid dividend yield offer some optimism.

About Mercia Asset Management

Mercia Asset Management PLC is a UK-based private capital asset manager dedicated to supporting regional SMEs. The company operates across venture capital, debt, private equity, and proprietary capital through its ‘Complete Connected Capital’ model. With a network of 11 regional offices and collaborations with universities, Mercia is well-placed to source high-quality investment opportunities. The company is listed on AIM under the ticker ‘MERC’.

Supermarket Income REIT plc (LSE:SUPR) has arranged a £215 million joint venture debt facility with Blue Owl Capital, supported by a banking syndicate including Barclays, HSBC, ING, and SMBC. This interest-only loan, with an initial three-year term plus two one-year extension options, will primarily be used to refinance existing debt. The deal highlights the company’s strong banking relationships and the attractiveness of its portfolio of high-quality grocery assets.

Financial Outlook

Despite some challenges in profitability, Supermarket Income REIT’s solid balance sheet, attractive valuation, and positive technical indicators support a favorable outlook. Strategic moves such as this refinancing and joint venture partnership enhance the company’s financial flexibility and growth prospects, making it an appealing option for investors focused on income generation.

About Supermarket Income REIT Plc

Supermarket Income REIT plc is a real estate investment trust specializing in grocery retail properties essential to national infrastructure. The company invests in omnichannel supermarkets that facilitate both online and physical sales. Its portfolio is leased to leading supermarket operators across the UK and Europe, providing long-term, inflation-linked rental income. Listed on both the London Stock Exchange and Johannesburg Stock Exchange, the company targets progressive dividends and potential capital growth.