Global financial markets on May 12, 2025, are buoyed by optimism surrounding a US-China trade deal, though uncertainties over tariff reductions temper gains. Gold drops to a one-week low near $3,253, while EUR/USD holds above 1.1200, awaiting trade deal details. AUD/USD rises on trade optimism, and USD/JPY remains firm as JPY weakens. WTI crude nears $61.00, supported by eased demand concerns but capped by OPEC+ output plans. US inflation data and Fed Chair Powell’s Thursday appearance are key catalysts this week. Gold Drops to One-Week Low Current Level: Gold (XAU/USD) trades near $3,253, down to a one-week low. ... (full story)