Yeng Try

Today’s even

Bank of Japan Governor Ueda says current interest rates are still accommodative
Ueda stressed that current monetary conditions remain accommodative even after recent adjustments, suggesting further tightening remains possible but not pre-determined.

Japan’s Kihara: Concerned about forex move

Additional quotes

Recent Yen moves are somewhat rapid, one-sided.
Important for currencies to move in a stable manner, reflecting fundamentals.
Take appropriate action for excessive, disorderly FX moves.
Even more important to communicate with the market, home and overseas to buy JGBs.

Gold steadies near $4,220 while silver breaks to all-time highs

Gold maintaining its year-to-date gain of approximately 60% at 4200 USD on track for its best annual performance since 1979.

Silver stole the spotlight printing a new high yesterday 58.95 USD nearing 60 USD.

The fundamental backdrop strongly supports precious metals. 

Wednesday's ADP employment report shocked markets with a 32,000-job loss—the largest since March 2023
These data points pushed the probability of a 25-basis-point Fed cut at the December 9-10 FOMC meeting to approximately 89% on the CME FedWatch tool.

Having said that US Fed 25 basis cut is fully priced in for next week.
Unless expectations increase for a 50 bps cut , Fed meeting is unlikely to have a big impact

Today’s event

Wow $BTC $ETH $BNB

Deta

Precious metals show resilience as silver outshines gold

Gold demonstrated remarkable resilience in Tuesday's trading session, staging a significant recovery after experiencing substantial intraday pressure 

Gold decline by as much as $75 during the session,

Gold managed to reclaim more than half of these losses by the close of trading, ultimately settling down just $23.80, or 0.54%. 

Notably, the bulk of the declines in both precious metals occurred within a concentrated ninety-minute period  precisely coinciding with the opening of New York markets.

The rapid rebound from intraday lows suggests the decline was driven primarily by profit-taking rather than signaling  a broader correction or fundamental shift 
As the precious metals market continues to evolve, the relationship between gold and silver will bear close watching as Gold/silver ration falls to 73

Today’s Even

Gold trades near $4,233/oz after ISM Manufacturing PMI falls to 48.2

Gold traded higher after the latest data showed the U.S. manufacturing sector weakening last month.

The ISM noted an uptick in inflation pressures, with the Price Index rising to 58.5 from 58 in October

The ISM also noted weakening in the labor market, with the Employment Index falling to 44 from 46 the previous month

Expect some sideways consolidation with upside bias for gold as we look ahead to ADP and FOMC

Today

Japan October retail sales +1.7% y/y (expected +0.8%)

Big jump for retail sales

Daily market

US Market Close

Falling rates , USD and Cyrpto will propel gold’s next leg higher

Falling rates, high uncertainty, the weakening dollar are all contributing to a very strong setup for the next phase of the gold rally,

Fed will become more dovish as Trump continues with his appointments, particularly when Powell’s successor is named

Another factor that could be boosting gold prices going forward is a relative weakening crypto as flows from Crypto may go into Gold

The case for gold is structural

Gold higher again today as hopes of Fed rate cut rises

Gold prices near an over one-week high on Wednesday, after expectations the U.S. Federal Reserve will reduce interest rates next month kept Gold and silver prices supported.

Rate cut hopes are rising as Trump might nominate a Fed chairman soon and the favorite is Kevin Hassett.

Hassett, like U.S. President Donald Trump, has said interest rates should be lower

Even’s Today

Daily Market report

Australian data: Q3 Private Capital Expenditure headline +6.4% q/q (vs. +0.5% expected)

A very solid jump higher indeed.
Positive AUD

Gold price could blow past $4,900/oz in 2026 if investors buy into diversification
 Gold prices will reach $4,900 per ounce next year on sustained demand from central banks and ETF buyers, but even a small push into diversification from retail investors could deliver significantly more upside,

We look for nearly 20% of additional price upside by the end of 2026, with our forecast at $4,900 per troy ounce by the end of ’26

The first driver is structurally higher central bank purchases

The second key driver is the Federal Reserve’s rate cutting cycle