US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Gold prices slipped in Asian trading on Monday as renewed risk appetite and a surge in expectations for a December U.S. Federal Reserve rate cut reduced demand for the safe-haven metal. Markets reacted to a rebound in equities and improved sentiment across risk-driven assets, alongside reports suggesting the U.S. is working toward facilitating a Russia-Ukraine ceasefire.
Despite the downward pressure, gold remained above the $4,000 per ounce mark, supported by ongoing concerns over global fiscal stability and heightened geopolitical tensions stemming from a China-Japan diplomatic dispute. Anticipation of several key U.S. economic reports scheduled for release this week also helped limit deeper losses, reinforcing expectations of potential near-term rate reductions.
Spot gold edged down 0.3% to $4,052.53 per ounce, while December gold futures dropped 0.7% to $4,086.10 by 01:07 ET (06:07 GMT). The metal lagged behind other precious commodities as traders sharply increased their bets on a 25-basis-point rate cut at the Fed’s December 9–10 meeting. According to CME FedWatch, the probability jumped to 67.3%, up significantly from last week’s 39.8%. Comments from New York Fed Governor John Williams, who noted easing inflation risks and potential threats to the labor market, fueled the shift in expectations.
Other precious metals outperformed gold, with spot platinum climbing 1.4% to $1,537.65 per ounce. Spot silver was slightly lower at $49.92385 per ounce.
Investors are now focused on a packed week of long-delayed U.S. economic data releases, expected to provide fresh insight into the country’s economic trajectory heading into December. Reports due include industrial production, capacity utilization, PPI, retail sales, building permits, durable goods, weekly jobless claims, and importantly, third-quarter GDP numbers. The Fed’s preferred inflation gauge, the PCE price index, is also set for publication.
These data points—delayed due to an extended government shutdown—may help clarify the economic outlook, though the lack of October figures means the Federal Reserve could still face uncertainty heading into its final meeting of the year, where policymakers remain split on further rate cuts.
