Jin Shi Shu Ju·2025-10-24 13:22Market Overview - The US dollar index experienced an increase followed by consolidation, breaking the 99 mark early in the week but weakening after Wednesday, closing at 98.82 [1] - Precious metals saw significant volatility, with gold reaching a record high of $4381 per ounce before a sharp drop of over 5% on Tuesday, marking its largest decline in nearly a decade [1] - Non-US currencies, including the euro and pound, appreciated against the dollar, while the dollar strengthened against the yen following the election of Japan's new prime minister [1] Stock Market Performance - US stocks remained stable overall, supported by a rotation in technology and some cyclical stocks, with Apple reaching a new high and nearing a market capitalization of $4 trillion [2] Investment Bank Insights - Citigroup turned bearish on gold, predicting a drop to $4000 in the next three months, while Goldman Sachs maintains a target of $4900 by the end of next year [5] - Morgan Stanley forecasts gold prices could exceed $5000 by 2026, with a long-term bullish outlook of $6000 [5] - UBS expects silver to rebound to $55 per ounce [5] - High inflation data is expected to have a limited lasting impact on the dollar, according to Deutsche Bank [5] Economic Data and Government Actions - The US CPI data released showed a year-on-year increase of 3% in September, slightly below market expectations, leading to increased bets on further rate cuts by the Federal Reserve [6] - The Federal Reserve's balance sheet has decreased by $2.38 trillion from its peak, now standing at $6.59 trillion as of September [7] Geopolitical Developments - The planned "Putin-Trump meeting 2.0" was canceled, and the US and Europe have intensified sanctions against Russia amid escalating tensions [9] - The US imposed sanctions on major Russian oil companies, which are crucial for funding Russia's military operations in Ukraine [11] Trade Agreements - The US and Australia signed a significant mineral agreement aimed at reducing dependence on Chinese minerals, with an investment of $8.5 billion [12] - The US is considering a substantial reduction in tariffs on Indian imports as part of a trade agreement [12] Corporate Developments - Tesla reported record revenue of $28.095 billion for Q3, driven by high delivery volumes, but net profit fell by 37% to $1.37 billion [18] - Apple's stock reached a new high, driven by strong sales of the iPhone 17 series, which saw a 14% increase in sales compared to the previous model [21] - OpenAI launched the ChatGPT Atlas browser, aiming to redefine the online experience and challenge Google's dominance in the browser market [22]