BofA removed Apple (AAPL.O) from its US preferred list.

During Asian trade on Friday, gold fell for a second session and briefly slipped below $4,000 as persistent expectations of a hawkish Fed weighed. Weak tech earnings raised concern that rising AI spending may not deliver commensurate returns, prompting flows into safe-haven US Treasuries and pushing US yields sharply lower. Renewed hopes for a diplomatic end to the Middle East conflict drove the dollar down for a third day but did little to ease gold’s downside bias. Iran’s navy claimed four tankers struck mines in the Strait of Hormuz, heightening supply-disruption risk and supporting oil. Together these factors underpin dollar dip-buying and leave gold’s path of least resistance to the downside; any rallies are likely to encounter selling. Gold is on track to fall about 3.5% month-to-date.

France September PPI YoY 6.8%; prior reading revised to 4.9% from 4.8%.