Oil Prices Slide Nearly 3% as U.S.-Iran Talks Ease Geopolitical Tensions 
U.S. Government Faces Brief Shutdown as Congress Delays Funding Deal 
Wall Street Slides as Warsh Fed Nomination, Hot Inflation, and Precious Metals Rout Shake Markets 
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JPMorgan Lifts Gold Price Forecast to $6,300 by End-2026 on Strong Central Bank and Investor Demand 
South Korea Factory Activity Hits 18-Month High as Export Demand Surges 
India Budget 2025 Highlights Manufacturing Push but Falls Short of Market Expectations 
Canada’s Trade Deficit Jumps in November as Exports Slide and Firms Diversify Away From U.S. 
EU Recovery Fund Faces Bottlenecks Despite Driving Digital and Green Projects 
IMF Forecasts Global Inflation Decline as Growth Remains Resilient 
Gold Prices Stabilize in Asian Trade After Sharp Weekly Losses Amid Fed Uncertainty 
U.S. Eases Venezuela Oil Sanctions to Boost American Investment After Maduro Ouster 
Asian Currencies Hold Firm as Dollar Rebounds on Fed Chair Nomination Hopes 
China Manufacturing PMI Slips Into Contraction in January as Weak Demand Pressures Economy 
Starmer’s China Visit Highlights Western Balancing Act Amid U.S.-China Rivalry 
South Korea Exports Surge in January on AI Chip Demand, Marking Fastest Growth in 4.5 Years 
Gold prices edged higher in Asian trading on Thursday, snapping a four-day losing streak as the Federal Reserve’s expected rate cut and uncertainty surrounding U.S.-China trade talks provided support. Spot gold climbed 1% to $3,967.03 an ounce at 02:51 ET (06:51 GMT), while U.S. gold futures slipped 0.4% to $3,983.10. The yellow metal had fallen for four consecutive sessions, hitting a three-week low earlier this week after plunging from last week’s record high above $4,300 per ounce amid heavy profit-taking and reduced safe-haven demand.
The Fed’s decision to trim its benchmark interest rate by 25 basis points to 3.75%-4.00% briefly pressured the dollar, lending support to non-yielding bullion. However, gains were limited after Fed Chair Jerome Powell signaled that another rate cut in December was “far from a foregone conclusion.” His cautious remarks dampened investor optimism for a longer easing cycle, tempering gold’s rally.
Meanwhile, geopolitical developments added further support. Former U.S. President Donald Trump and Chinese President Xi Jinping met in Busan, South Korea, where Trump described the talks as “amazing.” The two leaders reportedly agreed to reduce U.S. tariffs on Chinese goods from 57% to 47%, with China pledging to increase U.S. soybean imports and ease restrictions on rare-earth exports. Still, markets were left seeking concrete details, especially on key issues like semiconductor and agricultural trade.
The lack of clarity in trade policy, combined with the Fed’s dovish stance, lifted gold off recent lows below $3,900. Elsewhere, silver futures dipped 0.7% to $47.605 per ounce, platinum futures rose 0.7% to $1,594.80, and copper prices retreated after hitting a record high on the London Metal Exchange due to supply disruptions and profit-taking.
