Sharon Ding, UBS head of China basic materials research, said most negative news for gold has been priced in. Gold has dropped about 5% since early September as renewed inf concerns re‑ignited bets on further Fed hikes; she said prices now reflect a clear hawkish repricing and the headwind may ease as market odds of an October Fed rate rise recede. Ding added that if upcoming data no longer supports further upward revisions to the expected policy path, there is greater room for gold to stabilize

Reuters sources: US envoys, including Kushner, met Ukrainian officials in Miami and said a US‑Russia diesel agreement is intended to signal cooperation to Moscow to 'soften' its stance and help restart US‑Russia‑Ukraine talks. A person close to the Kremlin said Putin would only agree to a peace deal if he obtained control of the remaining roughly 11% of the Donbas region. The talks also addressed Ukrainian security guarantees and post‑war reconstruction.

China's auto production and sales fell slightly in Jan–Sep, with a cooling domestic market but strong export growth, the Industry Association said. New energy vehicle (NEV) sales share continued to rise. For Q4 the association expects the sector to remain broadly stable; exports are expected to keep growing and full-year exports could exceed 10.0 mln vehicles. The full 250 bln yuan trade-in subsidy allocation has been released, which, together with local and corporate consumption drives, should boost policy transmission and help narrow the domestic sales decline.