Stock Market Update
13-Jun-25 14:00 ET
Gold jumps 1.5% to $3,452.80 as Mideast tensions, soft U.S. data fuel weekly safe-haven rally
Dow -604.00
at 42363.62,
Nasdaq -121.17
at 19541.31,
S&P -38.81
at 6006.45
[BRIEFING.COM] With about two hours to go on Friday the tech-heavy Nasdaq Composite (-0.62%) hosts the shallowest daily losses while at the same time jockeying for position at the top of the weekly leaderboard.
Gold futures settled $50.40 higher (+1.5%) at $3,452.80/oz, and +3.2% on the week, as escalating geopolitical tensions in the Middle East, sparked by Israel's airstrike on Iran's nuclear facilities and retaliatory drone threats, drove a wave of safe-haven buying. Markets were also buoyed by soft U.S. inflation and labor data, reinforcing expectations of earlier Federal Reserve rate cuts, likely in September, which underpinned risk-off flows into precious metals. Weekly gains were propelled by a mix of Middle East flareups, a softer U.S. dollar, and persistent trade-deal uncertainty between the U.S. and China.
Meanwhile, the U.S. Dollar Index is up +0.3% to $98.14.
