Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Gold’s remarkable ascent continues, marking nearly 50 all-time highs this year and cementing its position as the standout performer in global markets. Analysts at RBC Capital Markets attribute the metal’s sustained rally not only to favorable macroeconomic conditions but to a deeper “compounding uncertainty” driving investors toward safety. This persistent unease, fueled by global instability, has elevated gold’s role as a hedge, safe haven, and portfolio diversifier.
According to RBC strategist Christopher Louney, ongoing fears surrounding a potential U.S. government shutdown, U.S.-China trade friction, Federal Reserve independence, inflation, and fiscal strain have all contributed to gold’s rising demand. Even minor portfolio shifts from bonds and equities can significantly impact gold prices, given the metal’s sensitivity to global asset flows.
RBC’s revised projections now place gold’s middle-case scenario at $4,227 per ounce in Q4 2025 and $4,427 in 2026, with an upper target near $5,108. The firm notes that this rally, now roughly 700 days long, remains shorter than historical bull runs that extended beyond 1,000 days—implying more upside potential ahead.
Investor positioning still appears moderate, with gold-backed ETP holdings below record highs and managed money positions showing room for growth. Notably, institutional investors are now considering increasing gold allocations from the traditional 5% to as much as 10%. Meanwhile, central banks continue to reinforce demand, expected to purchase over 850 tons of gold this year, emphasizing gold’s strategic importance as a reserve asset.
While high prices could dampen consumer demand in India and China, cultural affinity and bullish sentiment are expected to sustain buying interest. RBC foresees only a brief consolidation phase unless global uncertainty sharply declines—an outcome they deem unlikely. For now, gold remains buoyant, floating confidently atop waves of global anxiety.
