Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Trump Administration Plans Major Rollback of Biden-Era Fuel Economy Standards 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
U.S. Soybean Shipments to China Gain Momentum as Trade Tensions Ease 
Japan’s Service Sector Sustains Growth Momentum in November 
Tech Stocks Lift S&P 500 as Fed Rate-Cut Expectations Rise 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Dollar Slips as Weak U.S. Manufacturing Data Increases Pressure for Fed Rate Cuts 
Trump and Lula Discuss Trade, Sanctions, and Security in “Productive” Phone Call 
Japan’s Finance Minister Signals Alignment With BOJ as Rate Hike Speculation Grows 
Gold prices edged lower in Asian trading, easing after two consecutive days of gains as traders reduced expectations for a potential Federal Reserve interest rate cut in December. The pullback came as global equity markets rebounded sharply, driven in part by stronger-than-expected earnings from Nvidia, softening investor appetite for safe-haven assets such as gold.
Spot gold slipped 0.2% to $4,070.27 per ounce, while December gold futures fell 0.3% to $4,069.09 by 00:15 ET (05:15 GMT). The metal’s recent rally briefly paused after climbing more than 1% over the previous two sessions, weighed down by uncertainty surrounding the Fed’s next move. Minutes from the Fed’s October meeting showed policymakers were increasingly divided on whether further rate cuts were warranted, cooling market sentiment.
Rate-cut expectations dropped noticeably, with traders now assigning only a 21.5% probability of a 25-basis-point cut at the Fed’s December 10–11 meeting—down sharply from 42.4% just a day earlier, according to CME FedWatch. The prolonged U.S. government shutdown continues to delay delivery of key economic data, leaving the central bank with limited visibility and increasing the likelihood of a cautious pause.
Higher U.S. interest rates generally pressure non-yielding assets like gold, although ongoing concerns about excessive government spending in major economies and rising Japanese bond yields provided some underlying support. Heightening diplomatic tensions between China and Japan also helped sustain haven demand.
Other precious metals saw modest improvement, with spot platinum rising 0.8% to $1,560.13 per ounce, while silver held steady at $51.3415.
Investor focus now turns to the delayed U.S. nonfarm payrolls report for September, expected to offer clearer insight into the slowing labor market. Although the data is unlikely to directly influence December’s policy decision, recent private-sector reports and jobless claims point to steady softening. Still, persistent inflation may keep the Fed from easing aggressively, even if labor conditions continue to weaken.
