Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited 
New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
U.S. Stock Futures Edge Higher as Micron Earnings Boost AI Sentiment Ahead of CPI Data 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
Oil Prices Slip in Asia as 2026 Supply Glut Fears and Russia-Ukraine Talks Weigh on Markets 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Gold Prices Surge Amid U.S. Election Uncertainty
Gold prices increased on Tuesday, hovering near a record high reached the previous day due to ongoing uncertainties surrounding the U.S. election and escalating tensions in the Middle East. Spot gold rose by 0.5% to $2,732.44 per ounce, while U.S. gold futures climbed 0.3% to $2,746.20.
This precious metal, often viewed as a hedge against political and geopolitical instability, hit an all-time high of $2,740.37 on Monday, marking a more than 32% increase for the year. IG market strategist Yeap Jun Rong noted, “A confluence of tailwinds remains in place for gold,” including its appeal amidst U.S. election uncertainties and geopolitical risks, alongside robust central bank demand.
With the U.S. presidential election just over two weeks away, political figures like former President Donald Trump and Vice President Kamala Harris are locked in a competitive battle for key states. Recent developments, such as Israel's military actions against Hezbollah in Lebanon and Hamas in Gaza, have further fueled geopolitical tensions.
Traders anticipate an 89% probability of a 25-basis-point interest rate cut by the U.S. Federal Reserve in November, according to the CME FedWatch tool. Notably, gold's rally persists despite a stronger dollar and rising treasury yields, which recently hit a 12-week high.
In related markets, spot silver rose 0.9% to $34.05 per ounce, while Citi Research has revised its silver price forecast to $40 per ounce. Platinum and palladium also saw gains, rising 0.6% and 1.1%, respectively.
