Gold prices cool after surging on rate cut cheer, Fed Chair speculation

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.

Japan's factory output unexpectedly increased in October, alongside a rebound in retail sales, signaling a potential recovery in the manufacturing sector. This development suggests that Japan's economy may be gaining momentum despite previous concerns about stagnation.

Core consumer prices in Tokyo rose by 2.8% year-on-year in November, reflecting a steady inflationary trend in Japan's capital. This increase slightly exceeded forecasts, indicating a stable economic environment as consumer prices continue to rise.

Tokyo's Consumer Price Index (CPI) inflation remained steady in November, slightly exceeding forecasts, indicating a stable inflationary environment in the capital. This stability is crucial as it reflects ongoing economic conditions and consumer price trends in Japan.

Gold prices have remained steady and are on track for a fourth consecutive monthly gain, buoyed by optimism surrounding a potential interest rate cut by the Federal Reserve next month. This sentiment has been reinforced by comments from Fed officials and recent economic data suggesting a weakening labor market.

Brazil is seeking cooperation from the United States in an ongoing investigation into money laundering activities. This request highlights the country's efforts to strengthen international collaboration in combating financial crimes.

Mexico's stock market closed lower, with the S&P/BMV IPC index declining by 0.95%. This downturn reflects ongoing economic challenges and investor sentiment amid rising inflation concerns.

Canada’s stock market closed higher, with the S&P/TSX Composite index rising by 0.05%. This slight increase reflects a stable trading environment as investors navigate ongoing economic conditions.