Spot gold dropped 0.3% to $4,128.48 per ounce, paring gains from the prior session that were driven by falling crude prices. Investors are closely monitoring consumer and producer price index reports to gauge the trajectory of borrowing costs, with the CME FedWatch tool indicating an 84% probability of a rate increase in December. The downward pressure extended across other precious metals, with silver, platinum, and palladium all posting declines.
Key points
CME FedWatch data shows traders see an 84% probability that the Federal Reserve raises in…: CME FedWatch data shows traders see an 84% probability that the Federal Reserve raises interest rates in December.
Richmond Fed President Tom Barkin advised cautious policy adjustments while maintaining n…: Richmond Fed President Tom Barkin advised cautious policy adjustments while maintaining no firm base case for December.
President Donald Trump temporarily suspended planned military strikes against Iran follow…: President Donald Trump temporarily suspended planned military strikes against Iran following appeals from regional leaders including Qatar.
Sources checked by our analysis pipeline: 1
FUNDAMENTALS
* Spot gold fell 0.3% to $4,128.48 per ounce by 0024 GMT after rising more than 1% in the previous session on softer oil prices. US gold futures for December delivery rose 0.6% to $4,137.60.
* US President Donald Trump said on Monday he plans to hold off on new military strikes against Iran for the time being after appeals from countries in the region, including Qatar's prime minister in White House talks.
* Brent crude futures continued tumbling after settlement on Monday to lose more than $7 a barrel, hitting their lowest since late August.
* The US central bank should move its monetary policy "with care" as it maps a response to inflation that remains its greatest risk, Richmond Federal Reserve President Tom Barkin said on Monday, adding he had no base case for what should be done at the December meeting.
Read more: Dollar sellers hit pause for US inflation data
* Traders currently see an 84% chance that the Fed will raise rates in December, according to CME's FedWatch tool.
Market activity shows Ferrexpo equity facing downward pressure during today's trading session. Current reporting indicates that trading movement remains negative while additional details concerning the slide have not yet emerged. Observers await further updates to understand the specific drivers behind this downward performance.
Regional market participants drove strong momentum across domestic equities, pushing the Jakarta exchange into firmly positive territory by the closing bell. This solid upward push reflects sustained buying interest throughout the daily trading session. The performance demonstrates continued strength for local shares as market activities wrapped up for the day.