Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Gold prices soared to an unprecedented level above $4,100 per ounce in Asian trading on Tuesday, driven by renewed geopolitical tensions between the United States and China. Investors turned to safe-haven assets amid escalating uncertainty in global markets, pushing both gold and silver to fresh record highs.
Spot gold climbed 1.3% to $4,164.80 per ounce by 00:17 ET (04:17 GMT), after briefly touching an all-time high of $4,169.66 earlier in the session. U.S. gold futures followed suit, advancing 1% to $4,175.92.
The rally came after former U.S. President Donald Trump announced plans to impose a 10% tariff on Chinese imports, retaliating against Beijing’s restrictions on critical mineral exports used in electronics and defense manufacturing. However, Trump later softened his tone, assuring on social media that the U.S. “was not seeking any harm to China.”
Despite the initial tension, signs of potential diplomacy emerged. Treasury Secretary Scott Bessent confirmed that a meeting between Trump and Chinese President Xi Jinping is still scheduled later this month in South Korea. Meanwhile, China’s Ministry of Commerce stated that working-level discussions with U.S. counterparts are ongoing, though it vowed to “fight till the end” against what it described as unfair measures.
The combination of conflicting political signals and a weakening U.S. dollar further boosted bullion demand. Analysts noted that the uncertainty surrounding trade relations and economic stability continues to drive investors toward precious metals.
Silver also surged 2% to $53.47 per ounce, reaching a new record high, while platinum futures gained 1.2% to $1,704.55. With market volatility likely to persist, analysts expect gold to remain a top safe-haven asset in the near term.
