Gold Breaks Below $4,000 as Global Tightening and Liquidation Risks Converge — Is Today’s Bounce Just Relief?
Gold plunged 3.61% on Friday to 3,875.19, its first decisive daily close below $4,000, as Fed-led global tightening and liquidation-style selling converged. Monday's bounce toward 3,907 looks like relief within an established downtrend, with resistance at 4,083.41 and the next downside objective at 3,748.81.
RBA and BoE Hikes Largely Priced — Can GBP/AUD Escape Its Six-Month Range?
The RBA (4.60% to 4.85%, 81.2% priced) and the BoE (3.75% to 4.00%, 94.4% priced) are both expected to hike this week, so GBP/AUD will hinge on new forecasts and guidance beyond November rather than the hikes themselves. The cross remains inside its 1.8533–1.9360 six-month range.
AI Sell-Off Spreads Beyond Tech as Credit Risks Rise — Is a Deeper Market Correction Building?
Friday's 2.86% Nasdaq plunge and an 8.24% semiconductor-ETF drop extended a two-week AI-driven selloff that's now reaching corporate credit assessments—S&P Global cut Meta's outlook to negative. With Gold, Silver and Bitcoin all falling alongside tech even as Treasury yields drop, Nasdaq's 25,036.33, S&P 500's 7,507.77 and the 10-year yield's 4.815% are the critical tests for whether this becomes a broader correction.
Dollar Falls Across the Board as Markets Scale Back Fed Hike Expectations Beyond December
Dollar weakened against all seven major currencies on Friday as markets scaled back expectations for Fed tightening beyond the anticipated December rate increase. Dollar Index fell from around 102.30 on Thursday afternoon to 101.69 by Friday’s European session, a decline of approximately 0.6%.
