Spot gold rose about $30 intraday to trade above $4,070/oz, up 1.58% on the day. Spot silver advanced just over $1 to $59.58/oz, up 1.75%.

S&P Global final PMI shows UK manufacturing cooled in June as firms stockpiled ahead of price rises and Middle East-related supply risks. The manufacturing PMI fell to 52.5 (initial 53.1; May 53.9). The output subindex rose to 52.6, its highest since Sept 2024, but new orders growth slowed sharply, echoing a CBI survey last week. S&P analyst Rob Dobson said stockpiling has lifted output but the drop in new order intake suggests that boost is starting to fade, raising questions about sustaining Q2 momentum.

President Trump told reporters before departing on a trip that US relations with Iran are good and recent talks in Qatar have progressed smoothly, adding that Iran's denuclearization process is advancing. He also addressed his financial disclosures, saying a fund manages his money, he does not speak with the fund managers, and that he is profiting from the rising stock market.