China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Trump Meets Mexico and Canada Leaders After 2026 World Cup Draw Amid USMCA Tensions 
U.S. Stocks Rise as Cooler Inflation Boosts Hopes for Fed Rate Cut 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Austria’s AA Credit Rating Affirmed as Fitch Highlights Stable Outlook 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Gold prices edged higher in Asian trade on Monday, lifted by safe-haven demand as U.S.-China trade relations worsened and investors reacted to fresh signals of potential interest rate cuts by the Federal Reserve. Spot gold rose 0.8% to $3,315.68 an ounce, while August futures gained 0.7% to $3,338.52/oz.
Tensions flared after U.S. President Donald Trump accused China of breaching a trade agreement signed in Geneva, despite offering no specifics. China strongly denied the accusations and vowed to defend its national interests. This uncertainty, combined with Trump’s threat to double tariffs on steel and aluminum from 25% to 50%, triggered risk-off sentiment in global markets, driving investors toward gold and other safe assets.
The rally in gold was further supported by weakness in the U.S. dollar, following dovish comments from Federal Reserve Governor Christopher Waller. He stated that he supports rate cuts later in the year, noting that recent tariffs had minimal impact on inflation. Waller emphasized that cuts would depend on tariff levels staying relatively low, and highlighted growing concerns about the U.S. economy, citing recent Treasury market volatility.
A softer dollar boosted broader metal markets. Silver futures rose 0.6% to $33.220/oz, while copper futures on the London Metal Exchange advanced 0.7% to $9,580.85 per ton, despite weaker-than-expected Chinese PMI data for May. Platinum futures, however, slipped 0.5% to $1,050.10/oz.
Investors remain cautious amid escalating trade tensions and monetary policy uncertainty, both of which are fueling volatility across metals markets. With geopolitical risks mounting, gold continues to attract buyers seeking stability, while the Fed's dovish tone adds further upside potential for precious metals.
