Gold Prices Near Record High Amid Data Supporting Rate Cuts: Gold prices remained near a record high,
as upcoming U.S. data is expected to provide clues on
whether the Federal Reserve’s 50 basis point rate cut last week will be the first in a series of significant reductions.

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Gold Prices
Asian Stocks
Oil Prices

Gold Prices Near Record High Ahead of Data That Could Bolster Major Rate Cuts

Gold prices hovered near a record high as markets anticipated upcoming U.S. data.
to provide clues on whether the 50 basis point rate cut by the Federal Reserve
last week will be the first in a series of significant reductions.
On Friday, bullion traded near $2,620 per ounce after hitting a record high of $2,625.77 per ounce.
A batch of economic data, including the U.S. personal consumption expenditure gauge and jobless claims,
is set to be released later this week.
Federal Reserve Board member Christopher Waller said on Friday that he will likely support

quarter-point cuts at the central bank’s upcoming policy meetings
in November and December if the economy evolves as expected.
However, he noted that another half-point cut could occur if the labor market weakens.

Asian Stocks Rise Amid Anticipation of Stimulus to Support Chinese Economy

Asian stocks rose amid expectations that China may introduce more stimulus
to revive the world’s second-largest economy after the U.S. started a monetary easing cycle,
while gold prices are approaching a record high.
The MSCI Asia Pacific Index advanced, with stocks rising in China, Hong Kong, and South Korea.

U.S. stock futures also climbed. On Tuesday,
China announced a rare economic briefing by three top financial regulators as it cut one of its short-term interest rates,
fueling speculation that a new stimulus plan could be announced.

Oil Prices Rise After Weekly Gains Amid Escalating Middle East Conflict

Oil prices rose after a second consecutive week of gains

as the market focused on the escalating conflict between Israel and Hezbollah.
Brent crude neared $75 per barrel after gaining 4%,
marking its most significant weekly rise since April,

while West Texas Intermediate (WTI) was traded above $71 per barrel.
Hezbollah launched around 115 rockets, shells, and drones toward northern Israel on Sunday,
prompting counterattacks against the Iran-backed group in Lebanon.
The escalation—and concerns it could draw in Iran (a member of OPEC)—brought back the risk premium in oil,
helping Brent surge more than 8% from its lowest level since 2021, which it reached earlier this month.
However, hopes that the Federal Reserve’s rate cut last week would boost consumption remained
subdued due to concerns over the deteriorating outlook for fuel demand,

which has made hedge funds the most bearish on diesel ever.

Gold Prices Near Record High Amid Data Supporting Rate Cuts

Gold Prices Near Record High Amid Data Supporting Rate Cuts

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