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Gold reaches a 3-week high amid US debt worries and Fed rate cuts expectations
Gold prices rose Thursday, reaching a three-week high on expectations of a higher debt level in the U.S., and delayed economic data that could support a Federal Reserve rate reduction next month. As of 8:09 GMT, spot gold rose 0.7% to $4,227.15 an ounce. This is its highest level since October 21. U.S. Gold Futures for December Delivery rose by 0.4% to $4,232.30 an ounce. The resolution of the U.S. Government Shutdown will not have a significant impact on the trend, because it is expected to increase debt levels, said Hugo Pascal. The physical demand for gold and silver remains strong, and recent U.S. indicators indicate a weakening of growth. This is a positive combination for metals' prices." The U.S. president Donald Trump signed legislation on Wednesday to end a 43-day shutdown of the government, the longest ever in U.S. History, which had delayed important economic data, such as reports on jobs and inflation. The agreement will fund federal operations until January 30. However, the government expects to add an additional $1.8 trillion per year to its debt burden of $38 trillion. Fed Chair Jerome Powell warned against further easing in this year due to the lack of data. However, he cut interest rates by a quarter point last month. The U.S. Labor Department is urged to prioritise the November data on employment and inflation in order for Fed officials to have current information during their December policy meeting. According to a poll, 80% of economists believe that the Fed will cut rates next month by 25 basis points. Gold is usually a beneficiary of lower interest rates, as it offers no return and can be seen as a safe haven during times of economic uncertainty. Gold has risen 60% this year and reached a new record of $4,381.21 in October, fueled by geopolitical and economic concerns, increasing ETF flows, and expectations for further rate cuts. Silver spot rose 1.4%, to $54.14 an ounce. This is a move towards the record high reached on October 17. Palladium was up 0.9% at $1,487.50, while platinum rose by 0.1% to $1,616.29. Anmol Choubey reported from Bengaluru. Jane Merriman edited the article.
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Media reports claim that two people were killed and 18 injured in South Korea when a truck crashed into a market.
Two people were killed and 18 injured when a light truck crashed in a South Korean market on Thursday. The truck plowed 150 metres along a passageway lined up with stalls, before it came to a stop. A fire official said in a television briefing that the incident occurred at a Bucheon market, located about 20 km (12.43miles) west of Seoul. Yonhap News Agency confirmed that two people who suffered cardiac arrest died. Fire official stated that the truck appeared to reverse 28 metres before it accelerated towards the outdoor market. He said the driver blamed an abrupt surge in acceleration for the accident. A police official told the press briefing that the driver did not appear to be intoxicated after undergoing a test for alcohol. The official stated that the authorities would turn over the vehicle to the investigators in order to determine the reason for the accident. On Korean television, CCTV footage showed shoppers at an outdoor market going about their daily business before a blue pickup truck accelerated down a passageway lined with stalls. It then crashed into one store. Yonhap reported that the police had detained a driver in his 60s, and were questioning him. (Reporting and editing by Jack Kim, Heejin Kim)
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Shanghai copper continues to gain on US Government reopening cheer
Shanghai copper prices rose on Thursday, as investors welcomed an end to the U.S. Government shutdown. This eased market uncertainty. However, gains were limited by the expectation of weak Chinese lending in advance of important economic data releases. The Shanghai Futures Exchange's most traded copper contract closed the daytime trading at 86,550 Yuan ($12150.78) per metric ton, up by 0.95%. As of 0703 GMT, the benchmark three-month price for copper was also up, rising by 0.19%, to $10,965 per ton. The U.S. president Donald Trump signed legislation on Wednesday to end the longest shutdown of government in American history, just hours after the House of Representatives approved the spending package. Investors are pleased with the reopening the U.S. Government, which reduces uncertainty in the market. They also expect to see economic data returning to gauge the U.S. Economy. Copper gains are being held back by expectations of China's weak lending. Investors also await a number of economic data from China, which will be released this Friday. These include new home prices and retail sales as well as industrial output. Tin, the largest gainer among SHFE's base metals, posted the highest gains, closing the day at 298,140 yuan per ton, up 2.27%. Data from Indonesia's Trade Ministry showed that the country, which is a major supplier of tin to China, export 2,643 tonnes of refined tin during October. This was down 53.89 percent from a year ago, raising concerns about the availability of this soldering material. Nickel was not affected by the changes in nickel prices. $1 = 7.1230 Chinese yuan renminbi $1 = 7.1230 Chinese Yuan Renminbi (Reporting and editing by Dylan Duan, Lewis Jackson)
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Indonesia will begin road testing for B50 biodiesel in the next month and consider selective implementation
Eniya Dewi, an official from the Energy Ministry, said that Indonesia will begin road testing vehicles with biodiesel containing palm oil at 50% content in early December. The government is deciding whether or not to implement the B50 mandate in only certain sectors. In an effort to reduce the country's dependence on imported fuel, the government plans to introduce the B50 Standard in the second half next year. The palm oil content will be increased from 40% to 50%. She said this on the sidelines a conference on industry held in Bali. Eniya stated that the government will review all aspects of B50, including pricing, availability, technical issues and palm oil-based fuel. It will also be transparent in its findings. Due to Indonesia's limited capacity to produce biodiesel, the government is evaluating whether it will only implement B50 for so-called Public Service Obligation Sectors (PSO), such as public transportation and some logistic facilities. Eniya stated that they had discussed the possibility of increasing the blend to 50% in the PSO sector and reducing it in the non-PSO sectors. The challenge lies in the upstream sector. She added, "We can't implement at 50% simultaneously." (Reporting and writing by Fransiska Nanangoy, Editing by David Stanway.)
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Australia's conservative Liberal Party abandons net zero policy
The conservative Liberal Party of Australia backed away on Thursday from its pledge to achieve net-zero emissions by 2050, and instead pledged to focus on bringing energy prices down if it were elected. The announcement ends months of public fighting between members of the right and moderate factions over the party's policy on climate change, and aligns Liberals and the National Party as their rural-based partner. Sussan Lee, the leader of the opposition party, said that if the Liberal Party is elected they will dismantle all the policies and targets set by the center-left Labor Government on energy and environment. This includes the reduction of emissions and the generation and use renewable energy. She added that the United States would not be withdrawing from the Paris Climate Agreement. Ley, speaking at a press conference, told reporters that the Liberal Party had decided to prioritize affordable energy. "Net zero is a welcome goal if we are able to achieve it with the right technology, choice and voluntary market." The Liberal Party plan also includes preventing coal plant closures before they are due, lifting Australia's nuclear energy ban and increasing investments in new infrastructure and gas supplies. Ley stated that while the party will no longer pursue net-zero, emissions will still be reduced in line with "comparable countries" and "as quickly as technology allows". After a five-hour meeting of the party on Wednesday, a majority voted to abandon this target. The Liberal Party is now in agreement with the Nationals who, earlier this month, voted to abandon their commitment to achieve net-zero emission. Julia Dehm is an associate professor of law at La Trobe University. She said that the plan did not comply with the Paris Agreement, which calls for emission reductions commitments "that represent a progress beyond previous commitments". She said that if bipartisan action is not taken to stop dangerous global warming in accordance with international obligations, Australia risks reputational damage internationally and possible international legal actions. The Liberal Party had committed to net zero by 2050 in 2021 under the former Prime Minister Scott Morrison. However, after the Labor Party's resounding victory in the May national elections against the centre-left Labor Party, the debate erupted. The Labor government wants to reduce emissions from 2005 by 62%-70% by 2035 and achieve net-zero emission by 2050. It announced A$5 Billion ($3.3 Billion) in funding for industrial facilities to decarbonize. (1 Australian dollar = 1.5389 dollars) (Reporting and editing by Stephen Coates in Sydney, Christine Chen)
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How much will the price of ROI-LNG drop by 2026? Russell
The market for liquefied gas is preparing itself for an increase in supply, mostly from the top exporter, the United States. However, it is not clear how low the spot price will need to fall to clear these additional volumes. According to commodity analysts Kpler, the global supply of super-chilled gasoline is forecast to reach 475 million metric tonnes in 2026. This represents a 10.2% increase over the 431 millions tons predicted for 2025. This figure is comparable to South Korea's total annual demand, which is the third largest LNG importer in the world behind China and Japan. Go Katayama, Kpler's principal LNG expert, told a Sydney seminar on Thursday that the U.S. will increase its capacity to 130 million tonnes next year. The increase is from 90 millions tons in 2024 to 110 million expected this year. Kpler predicts that Asian benchmark spot prices will fall by 5%. In 2026, the average price per million British Thermal Units (mmBtu), which was $12 in 2025, will be $10. This doesn't sound too bearish. However, within a price forecast average for a year there can be a lot of movement from week to week. The price of a mmBtu will likely remain around $11.10 during the winter season in the north, but if the weather is colder than usual, the price could rise. The spot price is expected to start in 2026 at a level well above the average $10 forecast for the entire year. This gives it the potential to fall throughout the year. The second half of the year 2026 will see a large portion of the 44 million ton new LNG supply. It is likely that the spot price will fall in the second half of the year as the market struggles with the additional supply. Who Buys? It is important to ask who will buy new LNG. Much of it is not contracted and therefore available for spot transaction. Kpler expects that China's LNG imports will rise from 8 million to 75 millions tons in 2026, despite the weak demand for residential and trucking. India and Southeast Asian countries such as Thailand and Philippines are also potential hotspots for LNG demand. These countries are largely price-sensitive and would need to see a significant drop in the price of mmBtu below $8 to be compelled to buy large volumes. Europe's LNG consumption may increase, as it continues to move away from Russian pipeline gas. However, growth could be modest as renewables take a greater share in the region's energy mix. It is not clear if the additional LNG supply that will hit the market in 2026 can drive the price down to $8, but an even larger wave in 2027 may be sufficient to cause a significant drop in prices. Qatar, the country that is second only to Australia in terms of LNG production, has been working to increase its output to 126 millions tons by 2027. QatarEnergy CEO Saad al-Kaabi stated last week that the Middle East producer was on track to begin new production at its massive North Field in the fourth quarter of this year. The LNG market will soon reach a point where the supply growth is outpacing demand growth. The market is now predicting that spot prices will continue to fall, which in turn will boost demand for Asian products. Prices will need to stay low to sustain any increase in demand, which is likely to limit future investment in LNG capacity. You like this column? Open Interest (ROI) is your new essential source of global financial commentary. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on LinkedIn, X. These are the views of a columnist who writes for.
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Gold prices continue to rise after Trump signss deal to end shutdown
Gold rose on Thursday for the fifth consecutive session, reaching its highest level in over three weeks. This was boosted by the expectation that the reopening of the U.S. Government would restart the flow economic data. It also boosted bets about further interest rate reductions. As of 0521 GMT spot gold had risen 0.4% to $4,214.52 an ounce. This was its highest level since October 21. U.S. Gold Futures for December Delivery rose by 0.1%, to $4218.20 an ounce. Jigar Trivedi is senior research analyst at Reliance Securities. He said that gold's winning streak was extending due to a weaker US dollar, the expectation of Federal Reserve rate reductions, and central bank accumulation. While a near-term consolidation may be possible following rapid gains, the outlook is still positive. The price of gold could reach $4,300/oz or higher by year's end, if real yields remain low and the monetary policy is still accommodative. The longest government shutdown ever in U.S. History was ended by President Donald Trump's signing of legislation on Wednesday. The shutdown began on October 1. It had prevented the release of important economic data such as payroll and inflation reports. The U.S. Labor Department’s statistical agency is urged to produce the November employment and inflation report as soon as possible so that Federal Reserve officials can have the most up-to date information during their December policy meeting. According to 80% economists polled, the Fed will lower its key rate again by 25 basis points in order to support a weakening labor market. This is a slight increase from last month's poll. Gold that does not yield tends to perform well when interest rates are low and economic uncertainty is present. Gold prices are up 60% in the past year, reaching a record high of $4381.21 on 20th October, boosted by geopolitical tensions, trade wars, and Fed rate cuts. The yen fell to a new record low against the euro, and sank to its lowest level in nine months against the dollar. This was after Japan's newly appointed prime minister stated that she wanted to see the central bank take a more cautious approach to raising interest rates. Silver spot rose 1.3%, to $54.11 an ounce. This is a move towards the record high reached on October 17. Palladium was up 0.5% at $1,481,08, while platinum was unchanged at $1,614.92. (Reporting and editing by Rashmia Aich, Mrigank Dhaniwala and Anmol Choubey in Bengaluru.
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Deal after dinner when Trump signss end to shutdown
Tom Westbrook gives us a look at what the day will bring in the European and Global markets. U.S. president Donald Trump signed the bill that ended the longest U.S. shutdown ever recorded at a late-night signing ceremony at the Oval Office. This was after a dinner planned with Jamie Dimon, and other top Wall Street executives. Uncertainty surrounds the speed at which full government operations and services will resume. Investors expect the September jobs report to support a rate reduction, after recent soft numbers in private surveys. Some data gaps will likely be permanent. The White House has said that October's Consumer Price Index and Employment reports may never be released. Stocks in Asia took a break, with broad indexes moving higher, and Japan's Topix reaching a new record - after records were set by the Dow, FTSE, and pan-European STOXX 600 – an indication of a slight rotation from AI. The rise in gold prices has also slowed down. The yen has also been sliding towards intervention territory. The finance ministry reminded the public that they were closely watching a brief rise above 155 dollars per dollar on Tuesday. In Asia, it remained on the high side of this level. However, in Europe and Asia it sagged to a new record low of 179.49 euros. Sanae Takaichi, Prime Minister of Japan, wants to keep rates low and asked for close coordination between the Bank of Japan. Kazuo Ueda, the BOJ governor, told parliament that his goals were aligned with those of the government to reflate growth. He said he aimed for moderate inflation and wage increases. Markets in Australia have backed off rate cuts after a surge in employment in October. Meanwhile, ANZ Bank's shares that had lost their dividends are dragging down the index. From the close of trading in Asia, a slew earnings are due. Tencent may offer a read on China's consumer base. Updates from China's SMIC will be watched to gain insight into U.S. and China technology tensions. Siemens' results will reveal how the German industrial giant has navigated tariffs and an uneven global economy. The following are key developments that may influence the markets on Thursday. * Earnings at Rakuten, Tencent, SMIC, Merck, Burberry, Siemens, Disney * UK GDP
Gold prices continue to rise after Trump signss deal to end shutdown
Gold rose on Thursday for the fifth consecutive session, reaching its highest level in over three weeks. This was boosted by the expectation that the reopening of the U.S. Government would restart the flow economic data. It also boosted bets about further interest rate reductions.
As of 0637 GMT spot gold rose 0.2% to $4,207.24 an ounce. This is its highest level since October 21. U.S. Gold Futures for December Delivery were unchanged at $4,211 an ounce.
Jigar Trivedi is senior research analyst at Reliance Securities. He said that gold's winning streak was extending due to a weaker US dollar, the expectation of Federal Reserve rate reductions, and central bank accumulation.
While a near-term consolidation may be possible following rapid gains, the outlook is still positive. The price of gold could reach $4,300/oz or higher by year's end, if real yields remain subdued, and the monetary policy is still accommodative.
The longest government shutdown ever in U.S. History was ended by President Donald Trump's signing of legislation on Wednesday. The shutdown began on October 1. It had prevented the release of important economic data such as payroll and inflation reports.
The U.S. Labor Department’s statistical agency is urged to produce the November employment and inflation report as soon as possible so that Federal Reserve officials can have the most up-to date information during their December policy meeting.
According to 80% economists surveyed by, the Fed will lower its key rate again by 25 basis points in order to support a weakened labour market. This is a slight increase from last month's poll.
Gold that does not yield tends to perform well when interest rates are low and economic uncertainty is present.
Gold prices are up 60% in the past year, reaching a record high of $4381.21 on 20th October, boosted by geopolitical tensions, trade wars, and Fed rate cuts.
The yen fell to a new record low against the euro, and sank to its lowest level in nine months against the dollar. This was after Japan's newly appointed prime minister stated that she wanted to see the central bank take a more cautious approach to raising interest rates.
Silver spot rose 1.1%, to $54.02 an ounce. This is a move towards the record high reached on October 17.
Palladium was up 0.5% at $1,480.59, while platinum fell 0.1% to $1,612.80. (Reporting and editing by Rashmia Aich, Mrigank Dahiwala, and Subhranshu Shu in Bengaluru.
(source: Reuters)