U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
Record Gold Prices Driven by Safe Haven Demand
Gold prices surged to $2,705.26 per ounce in Asian trading on Friday, benefiting from increased safe-haven demand as the highly contested U.S. presidential election approaches. Spot gold rose by 0.4%, while December futures increased by 0.5%, reaching $2,720.15 an ounce.
U.S. Election Dynamics Impacting Gold
As the election draws near, polls indicate a tight race between Vice President Kamala Harris and former President Donald Trump. This electoral uncertainty has prompted investors to flock to gold as a safe asset. Recent surveys suggest Harris holds a slight lead, yet prediction markets favor a Trump victory, escalating anxiety over the election's outcome.
ECB Rate Cut Supports Gold Prices
Gold's ascent is also attributed to a 25 basis point rate cut by the European Central Bank (ECB). This monetary easing signals that global central banks remain in a rate-cutting mode, likely boosting demand for non-yielding assets like gold.
Despite a stronger U.S. dollar, which reached a two-and-a-half-month high, gold maintained its value. Strong retail sales and job data suggest that the Federal Reserve may slow its rate cuts. As tensions in the Middle East rise, with Israel preparing for retaliation against Iran, safe-haven demand for gold remains robust.
Conclusion
The combination of U.S. election uncertainty, ECB monetary policy shifts, and geopolitical tensions continues to drive gold prices to record highs, showcasing the metal's role as a hedge against market volatility.
