On Friday, global markets for precious metals experienced a downward trend, with spot gold prices decreasing and setting the stage for an overall weekly decline. Data from financial markets indicated that spot gold fell by 0.5 percent to trade at $4,326.75 per ounce, while United States gold futures for December delivery declined nearly 1.0 percent to $4,382.50 per ounce. This market retreat followed a sharp, temporary surge on Thursday, when bullion prices reached their highest levels in over two months before retreating by 1.3 percent due to sudden profit taking.
Business
On Friday, global markets for precious metals experienced a downward trend, with spot gold prices decreasing and setting the stage for an overall weekly decline. Data from financial markets indicated that spot gold fell by 0.5 percent to trade at $4,326.75 per ounce, while United States gold futures for December delivery declined nearly 1.0 percent to $4,382.50 per ounce. This market retreat followed a sharp, temporary surge on Thursday, when bullion prices reached their highest levels in over two months before retreating by 1.3 percent due to sudden profit taking.
Global electric vehicle sales rose 9% year on year in July 2026 to 1.85 million units. Among the major EV markets, Europe demonstrated the strongest expansion in July, with sales increasing 33% from the same month last year to approximately 450,000 units. Over the first seven months of 2026, the region’s EV sales grew by 28%. France saw an 81% year-on-year rise in July, achieving a 37% penetration rate for electric vehicles. Germany’s growth stood at 46%, while the United Kingdom experienced a 43% boost. Despite this, European EV sales in July were 17% lower compared to June.
South Korea’s automobile export revenue increased by 7.0% year on year, reaching a total of US$6.24 billion, marking the highest export value ever recorded for the month of July. The Ministry of Trade, Industry and Resources announced that these figures surpassed the previous July record of US$5.90 billion set in 2023, with July 2025 exports totaling US$5.83 billion. Domestic vehicle sales saw a modest rise of 0.5%, totaling 139,000 units, while manufacturing output climbed 11.3% to 352,000 vehicles.
Diesel prices continued to stay high as constrained refined-product supplies exerted upward pressure on fuel markets across the United States and Europe. U.S. ultra-low sulfur diesel futures surged by 7.4% on Monday, closing at $4.19 per gallon and marking the largest single-day increase since July 13, with early Wednesday trading pushing the contract close to $4.28 per gallon. Meanwhile, European diesel refining margins persisted at historically elevated levels after nearly a 10% increase on Monday.
Gold continued its upward trajectory for a third consecutive session on Tuesday, building on last week’s sharp rebound, with spot gold climbing 1% to $4,432.74 an ounce by 0217 GMT, marking its highest point since June 5 and surpassing the seven-week peak achieved last week. Meanwhile, U.S. gold futures increased by 1.7% to $4,492.60. This gain followed the positive movements on Friday and Monday, as global bullion markets reacted to U.S. economic data and interest rate expectations.
Denmark’s July inflation slowed to 1.7% as consumer price growth eased from June. The consumer price index for July reached 102.92, with 2025 serving as the index base of 100. Prices at restaurants and hotels rose by 8.1%, marking the most significant growth among the main CPI categories. Transport costs grew by 5.5%, while information and communication expenses increased by 4.6%. Education costs went up by 4.5%, and insurance along with financial services experienced a 2.9% rise. On the other hand, prices for food and nonalcoholic beverages declined by 1.6%, and household furnishings, equipment, and related services fell by 1.1%.
Travel
Etihad Airways will launch seasonal nonstop flights between Abu Dhabi and Gothenburg on December 17, 2026. The service will operate four times a week through March 21, 2027, connecting the UAE capital with Sweden’s second largest city during the winter travel period. The route will give Gothenburg its first direct air connection with the United Arab Emirates and create the city’s first nonstop link to the Middle East and Asia. Passengers from western Sweden can connect through Abu Dhabi to destinations across India and Asia.
Technology
UN Calls for Enhanced Protections for Children Online. An authoritative UN issue brief highlights major concerns such as disinformation, hate speech, harassment, algorithmic manipulation, and artificial intelligence, emphasizing the dangers tied to data collection, behavioral advertising, and digital systems designed to capture attention. This warning is issued amidst a backdrop where young individuals depend heavily on digital spaces for education, communication, information, and civic engagement. The report further states that children and teenagers are still developing the critical skills needed to evaluate the online information they encounter. The UN categorizes these threats into three primary areas: technology, distribution platforms, and harmful content.
Japan successfully launched its H3 rocket carrying the Michibiki No. 7 navigation satellite on Tuesday. H3 Flight No. 9 lifted off at 4:23:31 a.m. Japan time from the Tanegashima Space Center. The Japan Aerospace Exploration Agency, or JAXA, confirmed satellite separation about 29 minutes and four seconds after liftoff. The agency said the rocket followed its planned flight path and placed QZS-7 into its predetermined orbit.
This latest monetary ruling builds upon a previous $375 million jury award handed down in March 2026 during the initial phase of the state’s legal proceedings, where jurors concluded that Meta had violated New Mexico consumer protection laws by misrepresenting the safety features of its products for younger users. When combined, these two verdicts impose a total liability of $942 million on Meta, stemming from the state’s enforcement actions led by New Mexico Attorney General Raúl Torrez, with the company now liable for the teen mental health fund. The court’s detailed remedial decree specifies that $420 million of the new funds will directly support clinical mental health treatment services for children across New Mexico, while the remaining amount is allocated for public education efforts, early screening initiatives, and community prevention programs over the next five years. Additionally, the ruling enforces strict operational mandates requiring Meta to set accounts belonging to users under 18 to private by default, limit daily engagement time, restrict notification pushes, and enhance screening mechanisms to combat child sexual abuse material.
During this week’s rollout, GPT-5.6 Luna will become the standard model for Free and Go account holders, with the feature of unlimited text chats and the Think button scheduled to launch the following week. The Think feature allows Luna extra time to process more challenging questions before delivering an answer. OpenAI clarified that the unlimited text access remains governed by abuse prevention measures. This change pertains specifically to text exchanges rather than all ChatGPT features, meaning that separate restrictions will continue for tools that demand additional processing power. This expansion aligns with ChatGPT’s extensive global user base that engages in a variety of daily and professional tasks, as ChatGPT now reaches an estimated one billion people weekly for activities like searches, planning, research, writing, and more. OpenAI introduced the GPT-5.6 series in July, which includes models Sol, Terra, and Luna, with Luna positioned as the fastest and most economical among them. The latest update centers Luna as the default experience for users on Free and Go plans, emphasizing its role as the primary model.
World Trade and Tech Day will put inclusive AI policy at the center of global trade talks. The event will commence with opening remarks from Director-General Ngozi Okonjo-Iweala, followed by a ministerial dialogue exploring why artificial intelligence has emerged as a significant issue in trade policy. The program will also feature a keynote speech and a panel discussion involving private-sector representatives, with topics covering digital services, intellectual property rights, technical standards, and the contributions of developing economies to AI-related value chains. These sessions aim to connect technological policy considerations with the practical needs of cross-border trade operations.