Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
Gold Prices Slide as Hawkish Fed and Strong Dollar Weigh on Bullion 
German Industry Employment Falls to Lowest Level in a Decade 
Gold Prices Rebound on U.S.-Iran Peace Deal Optimism Despite Fed Rate Hike Signals 
Japan Inflation Stays Below BOJ Target Despite Rate Hike and Rising Energy Cost Risks 
Russia Stocks End Flat as MOEX Index Hits New 52-Week Low; Gold Falls and Oil Mixed 
Dollar Surges After Fed Holds Rates Steady, Signals Potential Tightening Ahead 
Australia Eases Capital Gains Tax Reforms to Support Small Businesses and Startups 
Canada, British Columbia Launch $5 Billion Infrastructure Partnership to Boost Housing, Transit, and Healthcare 
Japan Signals Readiness to Intervene as USD/JPY Nears 161 Amid Yen Weakness 
Asian Stocks Surge as Oil Prices Fall and Strong US Dollar Weighs on Markets 
Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry 
Oil Prices Slide as U.S.-Iran Deal and Hormuz Reopening Ease Supply Concerns 
Europe EV Demand Surges as Fuel Prices Rise Amid Iran Conflict 
Oil Prices Steady as U.S.-Iran Truce Uncertainty and Middle East Tensions Keep Markets on Edge 
Yen Near 40-Year Lows Despite BOJ Rate Hike, Markets Brace for Possible Intervention 
Asian Currencies Steady as Dollar Holds Firm Ahead of Fed Decision and US-Iran Deal Details 
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.
