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Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
Dollar Holds Firm Ahead of Global Central Bank Decisions as Yen, Sterling and Euro React 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
Asian Stocks Slide as AI Spending Fears and Global Central Bank Decisions Weigh on Markets 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Asian Stocks Slide as AI Valuation Fears and BOJ Uncertainty Weigh on Markets 
Oil Prices Slip in Asia as 2026 Supply Glut Fears and Russia-Ukraine Talks Weigh on Markets 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Gold Prices Rise on Election and Fed Anticipation
Gold prices experienced an uptick during Asian trading on Monday, staying close to record highs as uncertainty looms over the U.S. presidential election and an approaching Federal Reserve meeting heightened haven demand.
Weak Dollar Fuels Gold Demand
The yellow metal gained support from a weakening dollar, which fell after last week's unexpectedly weak nonfarm payrolls data. This economic news strengthens the case for potential interest rate cuts by the Fed. Although gold had faced some profit-taking towards the end of October, it remains buoyed by these market conditions.
As of 23:56 ET (04:56 GMT), spot gold rose 0.2% to $2,741.31 per ounce, while December gold futures steadied at $2,750.40 per ounce.
Election Landscape: Trump vs. Harris
With the election fast approaching, recent polls indicate a tight race between Donald Trump and Kamala Harris. Key battleground states are expected to play a pivotal role in determining the election's outcome. Notably, Harris enjoys significant support among female voters, while Trump has a strong following among young white men.
Impact of Economic Data on Gold
In addition to election-driven demand, the soft payrolls data released last week points to a cooling U.S. job market, suggesting the Fed may consider a 25 basis point rate cut in their upcoming meeting. Lower interest rates typically enhance gold’s appeal as a non-yielding asset.
Other precious metals also saw gains, with platinum futures increasing by 0.4% to $1,006.75 per ounce and silver futures climbing 0.3% to $32.77 per ounce. Industrial metals like copper also rose, reflecting broader market optimism ahead of China's National People's Congress meeting, which may unveil plans for increased fiscal spending.
