Gold Poised for Fourth Monthly Gain on Fed Rate-Cut Optimism

Gold prices have edged higher amid growing expectations of a potential interest rate cut by the Federal Reserve in December. This optimism has been fueled by recent comments from Fed officials, including John Williams, which have positively influenced market sentiment towards gold as a safe-haven asset.

Brazilian iron ore producer Vale SA announced a special dividend for its shareholders, driven by robust operational performance and elevated iron ore prices this year.

Oil prices are on track for their longest streak of monthly losses since 2023, driven by market uncertainties surrounding an upcoming OPEC+ meeting and ongoing geopolitical tensions related to the conflict in Ukraine. Traders are closely monitoring these developments as they assess future supply dynamics and pricing risks.

Chinese electric vehicle stocks have faced disappointing earnings results, leading to heightened investor anxiety about the market's future, particularly as 2026 approaches. This downturn reflects broader concerns about the sustainability of growth in the EV sector amidst increasing competition and economic pressures.

Asian stocks opened with uncertainty on Friday as the recent global equity rally appeared to be losing steam, reflecting a broader trend of market volatility. Investors are increasingly cautious following a week of sharp fluctuations in stock prices, particularly in the U.S. market.

China has significantly expanded its influence in global shipping by investing billions in port infrastructure worldwide, positioning itself strategically amid rising trade tensions. This dominance raises security concerns among other nations as they grapple with China's growing economic footprint.

Sophie Huynh, a portfolio manager at BNP Paribas Asset Management, expressed a positive outlook on Chinese equities during an interview on Bloomberg Markets, emphasizing their role as a diversification strategy within the firm's investment portfolios.

Chile's state-owned copper company, Enami, has announced that it has received multiple financing offers for a $1.7 billion copper smelter project, with plans to select banks for structuring the deal as early as next week, despite a currently depressed market.