Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Asian Stocks Slide as Central Bank Decisions and Key Data Keep Investors Cautious 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
China’s Small Bank Consolidation Struggles as Profits Fall and Risks Persist 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Gold prices soared to historic highs in Asian trading on Monday, fueled by strong safe-haven demand and growing optimism for Federal Reserve interest rate cuts. Spot gold climbed to a record $3,799.41 per ounce, while December gold futures peaked at $3,828.40 per ounce. Precious metals broadly rallied, supported by a weaker U.S. dollar and steady inflation data released last week.
Silver surged more than 2% to $47.03 per ounce, its highest level in over 14 years, while platinum jumped 3% to $1,619.78 per ounce, marking a 12-year high. Investors turned to metals as a hedge against uncertainty, particularly as the U.S. government faces the possibility of a shutdown later this week.
Federal funding is set to expire at midnight on September 30, with Congress yet to finalize a replacement or extension bill. Negotiations remain tense, as Republicans push for a temporary stop-gap bill extending funding through November, while Democrats demand the reversal of recent cuts to healthcare and Medicaid before approving any new measures. Congressional leaders from both parties are scheduled to meet President Donald Trump on Monday for mediation talks.
A potential government shutdown raises the risk of delayed economic reports, including the critical nonfarm payrolls data due later this week. A prolonged shutdown could disrupt economic activity, echoing the 35-day shutdown of late 2018 to early 2019, which the Congressional Budget Office estimated shaved $11 billion off U.S. GDP.
The current rally in gold, silver, and platinum highlights investor anxiety over fiscal uncertainty and monetary policy. With safe-haven demand surging and the Federal Reserve signaling possible rate cuts, precious metals are likely to remain in focus as global markets brace for the week ahead.
