Key developments for August 7:

• Gold rose 0.3% to $3,376 per ounce, supported by renewed trade tensions after China imposed new US tariffs and rising expectations of a soft rate cut.
• Asian stocks rose, led by Japan, to record highs, buoyed by tech earnings and rising expectations of a Federal Reserve rate cut.
• Oil rebounded slightly, with Brent crude rising to around $67.10 and WTI to $64.62, supported by lower US oil inventories and higher Saudi oil prices for China, despite tariff and geopolitical tensions.
• The dollar remained under pressure amid expectations of monetary easing, while the yuan and pound rose amid anticipation of a possible Bank of England cut.
• The South African ringgit found support for some of its losses as gold rose and the dollar weakened.