Gold Steady, EVs Surge and Fed in Focus

Global markets are in wait-and-watch mode as investors balance steady gold prices, upbeat EV momentum from China, and cautious currency moves ahead of the Fed’s rate decision. Optimism in Asian equities and modest oil gains highlight how resilience is holding despite mixed economic signals.

Gold Holds Strong Ahead of Fed Decision

Gold prices continue to hover near record highs as investors await the Federal Reserve’s next rate move. While bullion has held its ground, traders remain cautious, balancing sticky inflation concerns with expectations of easing monetary policy. The resilience of gold underscores its role as a safe haven in times of uncertainty.

China’s EV Sector Accelerates

Chinese electric vehicle (EV) stocks gained momentum after pledges of supplier payments and stronger-than-expected policy support for energy storage. Shares of leading battery maker CATL surged on reports that Beijing plans to nearly double its energy storage capacity, signaling long-term confidence in the EV ecosystem. This renewed push reflects China’s commitment to dominating the clean energy transition.

Currency Markets Stay Muted

In foreign exchange, Asian currencies traded within a tight range as weak Chinese data capped momentum. The dollar steadied ahead of the Fed meeting, with traders refraining from big bets until rate clarity emerges. While the yen and yuan saw minor movements, investors are closely watching upcoming US economic signals to guide positioning.

Asia Equities Build on Gains

Asian equities extended their rally, with South Korea hitting fresh peaks even as Chinese factory output data disappointed. Broader sentiment remains positive, supported by Wall Street’s recent highs and optimism around technology-led growth. Meanwhile, Apple shares received a boost after JPMorgan suggested stronger demand for the upcoming iPhone 17 compared to its predecessor.

Oil Prices Edge Higher

Oil markets climbed modestly, buoyed by Russian supply dynamics and anticipation around the Fed’s decision. While demand concerns persist, particularly after softer Chinese economic data, geopolitical supply factors continue to provide near-term support. Traders remain alert to inventory shifts and policy headlines that could alter direction.

SGFX Summary

The week reflects a balancing act across markets: gold is steady on policy caution, China’s EV push is fueling optimism, and equities are buoyant despite mixed data. With the Fed’s decision looming, investors are treading carefully, positioning for clarity on the path ahead.