Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Gold prices slipped in Asian trading on Monday as renewed risk appetite and a surge in expectations for a December U.S. Federal Reserve rate cut reduced demand for the safe-haven metal. Markets reacted to a rebound in equities and improved sentiment across risk-driven assets, alongside reports suggesting the U.S. is working toward facilitating a Russia-Ukraine ceasefire.
Despite the downward pressure, gold remained above the $4,000 per ounce mark, supported by ongoing concerns over global fiscal stability and heightened geopolitical tensions stemming from a China-Japan diplomatic dispute. Anticipation of several key U.S. economic reports scheduled for release this week also helped limit deeper losses, reinforcing expectations of potential near-term rate reductions.
Spot gold edged down 0.3% to $4,052.53 per ounce, while December gold futures dropped 0.7% to $4,086.10 by 01:07 ET (06:07 GMT). The metal lagged behind other precious commodities as traders sharply increased their bets on a 25-basis-point rate cut at the Fed’s December 9–10 meeting. According to CME FedWatch, the probability jumped to 67.3%, up significantly from last week’s 39.8%. Comments from New York Fed Governor John Williams, who noted easing inflation risks and potential threats to the labor market, fueled the shift in expectations.
Other precious metals outperformed gold, with spot platinum climbing 1.4% to $1,537.65 per ounce. Spot silver was slightly lower at $49.92385 per ounce.
Investors are now focused on a packed week of long-delayed U.S. economic data releases, expected to provide fresh insight into the country’s economic trajectory heading into December. Reports due include industrial production, capacity utilization, PPI, retail sales, building permits, durable goods, weekly jobless claims, and importantly, third-quarter GDP numbers. The Fed’s preferred inflation gauge, the PCE price index, is also set for publication.
These data points—delayed due to an extended government shutdown—may help clarify the economic outlook, though the lack of October figures means the Federal Reserve could still face uncertainty heading into its final meeting of the year, where policymakers remain split on further rate cuts.
