Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Oil Prices Slip as Russia-Ukraine Peace Hopes Fade and Oversupply Fears Grow 
South Korea Posts Stronger-Than-Expected 1.3% Economic Growth in Q3 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Trump and Lula Discuss Trade, Sanctions, and Security in “Productive” Phone Call 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
U.S. Soybean Shipments to China Gain Momentum as Trade Tensions Ease 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Gold prices soared in Asian trading on Monday, climbing back above the key $4,000 an ounce mark as the U.S. dollar weakened and investor attention turned to Congress’ progress toward ending the prolonged government shutdown. The precious metal also gained support from market optimism that the Federal Reserve could cut interest rates in December, despite ongoing uncertainty over the broader U.S. economic outlook.
Spot gold surged 1.4% to $4,053.72 per ounce, while December gold futures rose 1.3% to $4,062.45 by 23:43 ET (04:43 GMT). The rally reflected renewed investor demand for safe-haven assets amid political tensions and softening economic indicators.
The dollar’s mild decline provided further momentum to metal prices. A softer greenback typically boosts gold and other commodities by making them cheaper for foreign investors. Market sentiment was reinforced by expectations of a potential 25-basis-point rate cut from the Fed in December, supported by recent weak labor market data. According to CME FedWatch, traders priced in a 61.9% probability of such a move.
Recent Challenger job cuts data revealed the worst wave of layoffs in nearly two decades during October, intensifying fears of an economic slowdown. Analysts believe the Fed could step in to stabilize the job market and sustain growth.
Other precious metals also advanced on Monday. Spot platinum climbed 1.4% to $1,571.92 per ounce, while spot silver jumped 1.8% to $49.21 per ounce.
Meanwhile, investor sentiment brightened as the U.S. Senate voted 60-40 to advance a funding bill aimed at ending the nation’s longest government shutdown. The bill’s progress broke a Democratic filibuster and could soon reopen federal operations, paving the way for delayed economic data releases that may further influence Fed policy decisions.
