Gold, Cryptos Outshine US Stocks as Markets Eye Fed Minutes

The US stock market closed for Independence Day on Friday, but futures markets saw a rebound as concerns over the AI sector eased.

Over the weekend, tensions between Russia and Ukraine escalated, while risk premiums in the Middle East retreated ahead of schedule. Gold prices rose 2.16% to $4,176.94 per ounce, ending a four-week losing streak, while spot silver climbed 5.52% to $62.4158 per ounce.

Brent crude fell 0.66% for the week to $72.12 per barrel, marking its fourth consecutive weekly decline. Bitcoin traded around $63,600, up 7.9% over seven days, while Ethereum rose 15.1% over seven days.

This week's market events include the release of Fed meeting minutes under Waugh's leadership, which may influence rate hike expectations. The U.S. Trade Representative's office will hold hearings on imposing tariffs on 60 economies, and SpaceX will be added to the Nasdaq-100 Index, potentially impacting passive funds.