Yen Stabilizes Near Lows as Japan Signals Readiness to Intervene Amid Dollar Weakness 
Asian Stocks Rise as Wall Street Tech Rally Lifts Markets, Yen Slumps Despite BOJ Rate Hike 
Japan Revises Economic Growth Forecast as Stimulus Fuels Consumption and Investment 
UK Economy Grows 0.1% in Q3 2025 as Outlook Remains Fragile 
IMF Reaches Staff-Level Agreement With Egypt, Opening Path to $3.8 Billion in Funding 
RBA Signals Possible Interest Rate Hike in 2026 as Inflation Pressures Persist 
Oil Prices Edge Higher as Strong U.S. Growth and Supply Risks Support Market 
Gold Prices Surge to Record Highs as Geopolitical Tensions Fuel Safe-Haven Demand 
Gold Price Breaks $4,500 as Safe-Haven Demand and Rate Cut Bets Fuel Rally 
U.S. Stock Index Futures Steady After S&P 500 Hits Record on Strong Economic Data 
Asian Markets Rise as AI Rally Caps 2025, Gold and Silver Hit Record Highs 
Oil Prices Ease in Asia as Geopolitical Risks Clash With Weak Demand Outlook 
UBS Warns of Short-Term Risks as Precious Metals Rally to Record Highs 
China Keeps Benchmark Lending Rates Steady as Economic Outlook Remains Cautious 
German Exports to the U.S. Decline Sharply as Tariffs Reshape Trade in 2025 
Gold Prices Hit Record Highs
Gold prices soared to a record high during Asian trading on Wednesday, driven by heightened safe-haven demand amid political uncertainty in the United States and Japan, as well as anticipation of upcoming interest rate cues.
Market Dynamics and Political Landscape
After a slower start to the week, influenced by a less severe attack by Israel on Iran that eased Middle Eastern tensions, safe haven demand surged again. Concerns over the tightly contested U.S. presidential election, scheduled for November 5, and Japan's recent electoral shifts contributed to this demand.
Spot gold prices increased by 0.3% to reach $2,779.81 per ounce, while December gold futures rose to $2,791.90 per ounce. As the election approaches, market participants remain anxious over the competing economic proposals from candidates Donald Trump and Kamala Harris, with polls showing a neck-and-neck race.
Ongoing Global Tensions
Adding to the uncertainty, the ruling Liberal Democratic Party (LDP) of Japan lost its parliamentary majority, creating a fragmented political landscape. This scenario necessitates potential alliances with smaller parties, which may complicate governance.
Moreover, tensions in the Middle East persist, as Iran continues to threaten retaliation for recent Israeli strikes, and ongoing military actions against Hamas and Hezbollah limit prospects for de-escalation.
Economic Indicators and Interest Rate Outlook
Market participants are also bracing for significant economic data releases, including the third-quarter GDP and PCE price index due this week, ahead of the Federal Reserve's upcoming meeting, where a modest interest rate cut is expected. Lower U.S. interest rates typically favor non-yielding assets like gold.
Conclusion
In summary, the combination of political uncertainty, economic data anticipation, and ongoing global tensions is propelling gold prices to historic highs, while other precious metals like platinum and silver also see gains from safe haven buying.
