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Canada and Germany Advance Major LNG Supply Partnership 
Gold Prices Slip as Stronger Dollar and Iran Peace Talk Uncertainty Weigh on Market 
Wall Street Hits New Highs as U.S.-Iran Ceasefire Talks Boost Market Sentiment 
U.S. Launches New Strikes on Iran as Trump Signals Peace Deal Uncertainty 
Dollar Gains Slightly as U.S.-Iran Tensions Keep Forex Markets on Edge 
Asian Currencies Steady as U.S.-Iran Ceasefire Extension Hopes Weigh on Dollar 
US Launches New Trade Investigation Into Vietnam Over Intellectual Property Concerns 
South Korea Central Bank Holds Interest Rates Steady Amid Inflation Concerns 
US Dollar Slips as Markets Weigh Potential US-Iran Peace Deal and Oil Price Outlook 
Oil Prices Set for Sharp Weekly Losses as U.S.-Iran Ceasefire Hopes Ease Supply Concerns 
S&P 500 Hits Record High as Tech Rally Slows Amid Iran Peace Uncertainty 
Oil Prices Fall as Markets Await U.S.-Iran Peace Deal Decision 
Gold prices slipped slightly in Asian trading on Thursday, easing after a powerful rally earlier in the week as investors grew increasingly confident that the U.S. Federal Reserve will cut interest rates in December. Expectations of a more dovish policy path strengthened further amid speculation that a Fed Chair closely aligned with President Donald Trump could replace Jerome Powell when his term ends in 2026. Weak U.S. economic data also added pressure on the dollar, providing broader support to precious metals.
Spot gold dipped 0.3% to $4,152.35 per ounce in early trading, while gold futures declined 0.4% to $4,184.15 per ounce. Despite the slight pullback, gold remains up more than 2% this week as traders increasingly price in a 25-basis-point rate cut next month. According to CME FedWatch, markets now see a nearly 80% chance of a December cut—an enormous jump from roughly 24% just a week ago.
The shift in sentiment followed comments from two Fed policymakers signaling support for easing monetary policy, alongside disappointing U.S. economic indicators that reinforced concerns over slowing growth. Investors also reacted to geopolitical developments, including limited progress in ceasefire efforts between Russia and Ukraine and growing tensions between Japan and China—both of which boosted safe-haven demand for gold.
Other metals moved lower alongside gold. Spot silver fell 0.7% to $52.9525 per ounce after briefly approaching all-time highs, while platinum outperformed with a 1.7% jump to $1,616.76 per ounce, though the catalyst for its surge was unclear. Lower interest rates generally benefit non-yielding assets such as gold, as investors tend to shift away from government bonds in a declining-rate environment.
Attention is also turning to the potential successor to Fed Chair Jerome Powell. Reports suggest that White House National Economic Council Director Kevin Hassett is the leading candidate. Seen as a close ally of President Trump, Hassett is expected to advocate more aggressively for lower interest rates—a stance that could shape long-term monetary policy if he is appointed.
Several Fed officials have recently emphasized that supporting the labor market may outweigh inflation concerns in the near term, adding further momentum to expectations for rate cuts as price pressures are projected to cool in the coming months.
