{"id":66305,"date":"2026-08-10T22:08:15","date_gmt":"2026-08-11T02:08:15","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-update-gold-hits-new-peak-as-singapores-sti-reaches-record-high\/66305\/"},"modified":"2026-08-10T22:08:15","modified_gmt":"2026-08-11T02:08:15","slug":"global-markets-update-gold-hits-new-peak-as-singapores-sti-reaches-record-high","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-update-gold-hits-new-peak-as-singapores-sti-reaches-record-high\/66305\/","title":{"rendered":"Global Markets Update: Gold Hits New Peak as Singapore\u2019s STI Reaches Record High"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong><a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold prices<\/a> surged 1% to a new milestone of $4,430.15\/oz<\/strong>, driven by weak U.S. employment data and increased central bank purchasing.<\/li>\n<li><strong>Singapore\u2019s Straits Times Index (STI) hit a historic record high of 5,748.28<\/strong>, fueled by a 0.9% jump in heavyweight banking stocks.<\/li>\n<li><strong>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>) is reportedly moving forward with a &quot;glass-centric&quot; iPhone overhaul<\/strong> for its 20th anniversary, despite previous analyst reports of a cancellation.<\/li>\n<li><strong>China\u2019s commercial banks are offloading over $8.2 billion (55 billion yuan) in bad credit-card debt<\/strong> to clean up balance sheets amid a slowing domestic economy.<\/li>\n<li><strong>South Korea and the U.S. issued a joint advisory on &quot;Gunra&quot; ransomware<\/strong>, a double-extortion threat targeting critical infrastructure and financial sectors.<\/li>\n<\/ul>\n<h2>Precious Metals and Equities<\/h2>\n<p><strong>Gold<\/strong> prices climbed to <strong>$4,430.15 per ounce<\/strong> on Tuesday, marking a significant 1% rise as investors reacted to cooling U.S. labor market data. The rally is further supported by <em>robust inflows into gold-backed ETFs<\/em> and sustained buying from the Chinese central bank.<\/p>\n<p>In equity markets, <strong>Singapore\u2019s Straits Times Index (STI)<\/strong> surged 0.9% to reach an all-time high of <strong>5,748.28<\/strong>. The rally was spearheaded by the city-state&#39;s dominant banking trio\u2014DBS (<a href=\"\/stock\/D05\">D05<\/a>), OCBC (<a href=\"\/stock\/O39\">O39<\/a>), and UOB (<a href=\"\/stock\/U11\">U11<\/a>)\u2014which continue to benefit from resilient earnings and strong institutional demand.<\/p>\n<h2>Corporate Developments: Apple and Diageo<\/h2>\n<p><strong>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>)<\/strong> is still planning a radical &quot;glass-centric&quot; redesign for the iPhone\u2019s 20th anniversary in 2027, according to sources familiar with the matter. This report directly counters a recent <strong>Jefferies<\/strong> analyst note suggesting the project had been scrapped due to manufacturing hurdles.<\/p>\n<p>Meanwhile, <strong>Diageo (<a href=\"\/stock\/DGE\">DGE<\/a>)<\/strong> faces regulatory headwinds in India, where authorities seized approximately <strong>18,000 boxes<\/strong> of whisky and vodka. The crackdown, led by the <strong>FSSAI<\/strong>, targets plastic PET bottles that allegedly lack mandatory &quot;recycled&quot; symbols, affecting major brands like <strong>Smirnoff<\/strong> and <strong>VAT 69<\/strong>.<\/p>\n<h2>Financial Sector and Macroeconomics<\/h2>\n<p><strong>China\u2019s<\/strong> banking sector is aggressively disposing of non-performing loans (NPLs), with lenders like <strong>China Everbright Bank<\/strong> and <strong>Agricultural Bank of China<\/strong> listing over <strong>$8.2 billion<\/strong> in distressed credit-card debt. This move comes as China&#39;s GDP growth slowed to 4.3% in the second quarter, putting pressure on consumer credit quality.<\/p>\n<p>In New Zealand, the <strong>Reserve Bank (RBNZ)<\/strong> raised no objection to the appointment of <strong>Ben Kelleher<\/strong> as the new CEO of <strong>ANZ Bank New Zealand (<a href=\"\/stock\/ANZ\">ANZ<\/a>)<\/strong>. Kelleher, currently the Chief Risk Officer, will succeed <strong>Antonia Watson<\/strong> following her retirement in September 2026.<\/p>\n<h2>Cybersecurity and Geopolitical Risks<\/h2>\n<p>The <strong>FBI<\/strong> and South Korean authorities released a joint advisory regarding <strong>&quot;Gunra&quot; ransomware<\/strong>. This &quot;Ransomware-as-a-Service&quot; operation uses a double-extortion model, encrypting data while threatening to leak sensitive information from government and healthcare institutions if ransoms\u2014often exceeding <strong>$10 million<\/strong>\u2014are not paid.<\/p>\n<p>In Russia, a fire was reported at an oil refinery in the Far East, located more than <strong>6,000 kilometers<\/strong> from the Ukrainian border. Simultaneously, the logistics hubs of major Russian retailer <strong>Wildberries<\/strong> were reportedly targeted again, highlighting the expanding geographic reach of infrastructure disruptions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Gold prices surged 1% to a new milestone of $4,430.15\/oz, driven by weak U.S. employment data and increased 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