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Global markets for precious metals faced downward pressure on Friday, with spot gold prices declining and setting the stage for a broader weekly decrease. According to financial data, spot gold fell by 0.5 percent, trading at $4,326.75 per ounce, while United States gold futures for December delivery dipped nearly 1.0 percent to $4,382.50 per ounce. These market declines followed a brief but sharp rally on Thursday, when bullion prices reached their highest levels in over two months before retreating by 1.3 percent amid rapid profit-taking.

Worldwide electric vehicle sales experienced a 9% growth in July 2026 compared to the previous year, reaching a total of 1.85 million units sold globally. During the first seven months of the year, sales reached 11.5 million vehicles, reflecting a 4% increase from the same period in 2025. Europe led major EV markets in July as global electric vehicle demand continued to grow. Among the world’s leading electric vehicle markets, Europe demonstrated the strongest growth during July. Regional sales expanded by 33% year-over-year to approximately 450,000 units. From January to July, EV sales across Europe grew by 28%.

South Korea’s automobile exports climbed 7.0% from a year earlier to US$6.24 billion in July 2026. The figure set a record for the month of July and exceeded the previous July high of US$5.90 billion in 2023. Vehicle production increased 11.3% to about 352,000 units, while local sales edged up 0.5% to 139,000 vehicles. Eco-friendly vehicles accounted for much of the export growth during the month, with their overseas sales value rising 25.5% year on year to US$2.59 billion. North America remained the largest destination for Korean vehicle exports, with shipments rising 18.0% to US$3.25 billion.

Across the United States and Europe, diesel prices have maintained high levels due to limited inventories and refinery disruptions restricting the availability of finished fuel. U.S. ultra-low sulfur diesel futures surged 7.4% on Monday to reach $4.19 a gallon, marking the biggest daily increase since July 13. Early Wednesday, the contract traded close to $4.28 a gallon. Meanwhile, European diesel refining margins continued to be notably strong, having gained nearly 10% at the start of the week.

Gold moved higher for the third day in a row on Tuesday, continuing its rebound from last week’s lows. The spot price of gold rose 1% to $4,432.74 per ounce by 0217 GMT, reaching its highest point since June 5. Meanwhile, U.S. gold futures increased by 1.7%, settling at $4,492.60. This upward movement pushed gold prices beyond the seven-week high recorded last week and signaled an accelerated recovery following weaker U.S. employment figures.

Official data revealed that Denmark’s inflation rate for the year slowed to 1.7% in July from 1.9% in June. Statistics Denmark reported that consumer prices experienced a 1.3% increase from the previous month. The core inflation rate remained steady at 2.3%, matching the figure recorded in June. Notably, the rise in prices within the restaurant and hotel sectors continued to significantly influence the overall index, with holiday home rentals also playing a major role during the busy summer travel season.

According to a report from Triodos Bank, extreme heatwaves and prolonged drought conditions across Europe could shave approximately 1% off the European Union’s economic output in 2026. This potential decline, roughly equivalent to €180 billion, emerges amid a year already marked by sluggish growth. The European Commission predicted in May that the EU’s gross domestic product would grow by 1.1% in 2026. This baseline forecast leaves little room between anticipated growth and the economic impact projected from this summer’s severe weather events.

South Korea is experiencing significant upward pressure on fresh produce costs as unprecedented heatwaves impact agricultural output and diminish vegetable availability. Data from Korea Agro-Fisheries & Food Trade Corp. revealed that on August 7, spinach prices soared to 1,978 won per 100 grams, marking an increase of 152.3% compared to the previous month. Meanwhile, ten cucumbers were priced at 8,313 won, up 54.8%. Blue lettuce experienced a 41.7% rise, and zucchini climbed 46.6% to reach 1,504 won.

BRUSSELS / RankWire.AI / – On Friday, European space authorities finalized a significant expansion of the EU’s leading satellite communication system after months of multilateral commercial negotiations held in Brussels. Official statements from the European Commission confirmed the signing of a contract to grow IRIS2 satellite constellation through a binding implementation agreement with the SpaceRISE industrial consortium. This formal signing marks the conclusion of detailed technical and financial negotiations that began in January 2026, as the Infrastructure for Resilience, Interconnectivity and Security by Satellite program transitions from its initial planning phase into full industrial deployment.

In June, South Korea achieved an all-time high current account surplus of $49.73 billion, driven by a significant increase in semiconductor exports. The surge was predominantly fueled by robust goods exports, with technology shipments playing a crucial role in boosting overseas sales growth. Semiconductor exports drove South Korea’s current account surplus to an all-time June record. For the first half of the year, the current account surplus reached an unprecedented $191.01 billion, setting a new record for January through June.