Oil Surge Pressures Global Stocks as U.S.-Iran Truce Hopes Fade 
Gold Holds Near Seven-Week Low as Fed Rate Hike Bets Rise 
Asian Stocks Fall as Bond Yields and Oil Prices Surge 
RBA Set for September Rate Hike as Inflation Stays High 
China, US Extend Trade Truce Through January 10 After Trump-Xi Summit 
Oil Prices Rise as Iran Holds Firm on Strait of Hormuz Deal 
RBA Hikes Interest Rate to 4.60% as Inflation Risks Rise 
South Korea Exports Set for 16th Monthly Gain on AI Chip Demand 
US Dollar Hits Two-Month High as Aussie, Pound Slide 
UK Housebuilder Stocks Surge on New First-Time Buyer Loan Scheme 
XRP Price Targets $1.70 as Bullish Momentum Builds 
U.S. Stock Futures Steady as AI, Rate Concerns Weigh 
China Cuts Tariffs on U.S. Farm Goods but Excludes Soybeans 
BlackRock’s Rick Rieder Favors Bonds Over Stocks as Treasury Yields Surge 
Japan Warns Markets Over Yen Weakness 
China Industrial Profit Growth Slows as Weak Demand Offsets AI Gains 
Asian Currencies Weaken as Dollar, Oil Prices Rise 
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Gold prices rebounded Tuesday as falling oil prices and easing pressure in the U.S. Treasury market helped the precious metal overcome a stronger dollar.
Spot gold climbed 1.6% to settle at $4,182.45 an ounce, while U.S. gold futures gained 1.1% to the same level, recovering from the previous session’s decline.
Oil prices moved sharply lower, with Brent crude futures falling 2.2% to $95.73 a barrel after touching their lowest level since September 23. The drop came despite President Donald Trump rejecting an Iranian proposal to reopen the Strait of Hormuz and dismissing as “untrue” an Axios report suggesting Washington could ease sanctions in exchange for progress on Iran’s nuclear program.
Energy markets instead focused on reports that Qatari mediators could continue separate discussions with the U.S. and Iran. Improving Gulf oil flows also eased supply concerns. Saudi Arabia reportedly resumed exports through the Red Sea port of Yanbu following repairs to its East-West Pipeline.
Meanwhile, the U.S. Department of Energy offered to loan companies up to 40 million barrels of crude from the Strategic Petroleum Reserve as part of an international effort to release emergency supplies following the outbreak of the Iran war.
U.S. Treasury yields remained volatile. The 10-year yield earlier reached its highest level since April 2002, while the 30-year yield climbed to its highest since June 2002. Concerns over inflation, AI-related corporate borrowing, tighter Federal Reserve policy and rising U.S. government debt have fueled the recent bond selloff.
Economic data offered mixed signals. U.S. job openings fell to 7.079 million in August from a revised 7.335 million in July, missing expectations of 7.230 million. The Conference Board’s consumer confidence index also dropped to 81.9 in September, its weakest reading since May 2014.
Treasury selling later eased after New York Fed President John Williams said policymakers did not need to rush their next decision. Investors are now watching the Fed’s preferred inflation gauge and Friday’s nonfarm payrolls report for fresh clues on interest rates and the outlook for gold prices.
