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 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Gold prices edged lower in Asian trade on Monday, weighed down by a stronger U.S. dollar, even as heightened geopolitical tensions between Israel and Iran supported safe-haven demand. Spot gold dipped 0.1% to $3,427.78 per ounce, while August gold futures fell 0.2% to $3,446.45.
Last week, gold surged nearly 4% after Israel launched strikes on Iranian targets, including nuclear sites, prompting Iran to retaliate with missile attacks on major Israeli cities like Tel Aviv. Some missiles bypassed Israel’s Iron Dome defense system, intensifying fears of broader regional conflict. The weekend violence led Iran to cancel scheduled nuclear talks with the U.S., further reducing hopes for diplomatic de-escalation. U.S. President Donald Trump noted his administration was working on a resolution but also stated the two nations might have to “fight it out,” hinting at prolonged hostilities.
Despite strong safe-haven demand, the dollar's resilience ahead of the Federal Reserve’s policy meeting this week capped further gold gains. The dollar rose 0.1%, supported by investor positioning before the Fed's expected decision to keep interest rates steady. Market attention now turns to Chair Jerome Powell’s comments, particularly regarding rate trajectory amid slowing inflation and economic growth.
In broader metals trading, silver futures dropped 0.3% to $26.26 per ounce, while platinum extended gains, rising nearly 1% to $1,224.00—its highest in over four years. Industrial metals were also under pressure, with London copper futures down 0.1% at $9,627.75 a ton and U.S. copper futures falling 0.4% to $4.7972 per pound.
The ongoing Middle East conflict and the Fed’s outlook remain key drivers for precious metal markets this week.
