The Fed's December interest rate cut remains shrouded in uncertainty, with gold hovering around $4,000!

· The U.S. Treasury Department expects to borrow $569 billion in the fourth quarter, $21 billion less than the July estimate. This news is positive for U.S. stocks. · Due to declining output and weak demand, U.S. manufacturing activity contracted for the eighth consecutive month in October, with the Institute for Supply Management (ISM) manufacturing index falling by 0.4 to 48.7. This news is negative for the U.S. dollar and U.S. stocks. · The London Metal Exchange (LME) announced that it will suspend metal options trading denominated in non-US dollar currencies starting November 10, 2025. This news is bullish for gold.