Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
Gold Prices Steady Ahead of U.S. Inflation Data and Fed Decision 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
ECB Rate Hike in Focus as Oil Tops $100 
Norway Core Inflation Rises to 3% in August 
China Inflation Accelerates in August as CPI, PPI Rise 
China Buys 1 Million Tons of U.S. Soybeans Ahead of Xi Visit 
Asian Stocks Mixed as Korean Chipmakers Rally 
Asian Stocks Fall as Oil Tops $100, Yields Rise 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
Brent Oil Tops $100 as Middle East Conflict Threatens Supply 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
Fitch Eyes Japan Budget for Fiscal Discipline 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
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Gold Prices Rise Amid Lower Yields, Rate Cut Expectations
Gold prices continued their upward trajectory on Thursday, nearing record highs as declining U.S. Treasury yields and anticipated interest rate cuts by major central banks provided support. Spot gold rose 0.2% to $2,678.90 per ounce, while December gold futures increased by 0.1% to $2,694.40 per ounce.
The softening of Treasury yields, particularly the 10-year rate, which fell by 0.5%, bolstered bullion. Speculation about a second Trump presidency and its potential inflationary effects contributed to a stronger dollar but did not dampen gold's momentum. Investors are closely watching for a 25 basis-point rate cut from the European Central Bank later in the day, which could further influence gold's performance.
Trump Presidency Speculation Impacts Market Sentiment
Political developments in the U.S. have played a role in market dynamics, with Donald Trump gaining traction in online betting markets. His policies, expected to drive inflation, have affected Treasury yields and strengthened the U.S. dollar. With just weeks before the election, traders remain cautious about the economic outlook.
Copper Declines as China Stimulus Fails to Impress
In contrast, copper prices continued their decline, reflecting disappointment over China’s latest economic stimulus measures for the property sector. Benchmark copper futures dropped 0.6% to $9,548.50 per ton, while December futures fell to $4.3445 per pound.
The briefing from China’s housing minister outlined expanded developer funding but lacked substantial new measures, leaving investors skeptical. With Chinese third-quarter GDP data expected soon, markets are on edge regarding further economic growth.
