Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
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.
