Wall Street Slides as Warsh Fed Nomination, Hot Inflation, and Precious Metals Rout Shake Markets 
Russia Stocks End Flat as MOEX Closes Unchanged Amid Mixed Global Signals 
BOJ Policymakers Warn Weak Yen Could Fuel Inflation Risks and Delay Rate Action 
Asian Markets Slide as Silver Volatility, Earnings Season, and Central Bank Meetings Rattle Investors 
Canada’s Trade Deficit Jumps in November as Exports Slide and Firms Diversify Away From U.S. 
Dollar Holds Firm as Markets Weigh Warsh-Led Fed and Yen Weakness Ahead of Japan Election 
U.S. Government Faces Brief Shutdown as Congress Delays Funding Deal 
India Budget 2025 Highlights Manufacturing Push but Falls Short of Market Expectations 
Asian Currencies Hold Firm as Dollar Rebounds on Fed Chair Nomination Hopes 
IMF Forecasts Global Inflation Decline as Growth Remains Resilient 
South Korea Exports Surge in January on AI Chip Demand, Marking Fastest Growth in 4.5 Years 
U.S.–Venezuela Relations Show Signs of Thaw as Top Envoy Visits Caracas 
China Manufacturing PMI Slips Into Contraction in January as Weak Demand Pressures Economy 
China Home Prices Rise in January as Government Signals Stronger Support for Property Market 
Gold and Silver Prices Plunge as Trump Taps Kevin Warsh for Fed Chair 
South Korea Factory Activity Hits 18-Month High as Export Demand Surges 
Gold prices slipped in Asian trading on Thursday, extending losses from the previous session as the U.S. dollar rebounded following the Federal Reserve’s widely expected rate cut. Spot gold fell 0.7% to $3,635.55 an ounce by 02:24 ET (06:24 GMT), after touching a record $3,707.40 earlier this week. U.S. gold futures for December delivery dropped 1.3% to $3,670.45.
The Fed cut interest rates by 25 basis points to 4.00%–4.25%, marking its first reduction since December. Policymakers projected two additional cuts this year but only one in 2026, signaling a cautious approach. Chair Jerome Powell described the move as a “risk-management cut,” citing labor market weakness and employment risks. He emphasized that future decisions would be taken on a meeting-by-meeting basis, dampening expectations of aggressive easing.
Markets reacted with skepticism, as the U.S. Dollar Index rose 0.4% after hitting a 3-1/2 year low, pressuring bullion by making it more expensive for foreign buyers. Analysts at ING noted that while the Fed expects limited cuts to support growth and employment, investor doubts linger.
Despite the recent pullback, gold has surged nearly 39% year-to-date, fueled by monetary easing expectations, geopolitical tensions, and robust central bank demand. The cautious Fed outlook, however, prompted some profit-taking after bullion’s historic rally.
Other metals also weakened as the dollar gained strength. Silver futures dropped 1.1% to $41.72 per ounce, while platinum held steady at $1,370.80. Copper futures slipped 0.5%, with London prices at $9,945.80 a ton and U.S. contracts at $4.60 a pound.
The retreat highlights how shifting Fed policy and currency strength continue to shape precious and industrial metal markets, with investors balancing profit-taking against long-term safe-haven demand.
