Iran's protests have escalated with increased violence and spread across more provinces, leading to deaths and confrontations with security forces, while regional tensions rise with Israel conducting extensive strikes in Lebanon, Iran offering weapons for cryptocurrency, and Yemen's southern separatists moving towards declaring independence, all amidst ongoing conflicts and security challenges in the Middle East.
Gold prices dropped 3% as President-elect Donald Trump appointed Scott Bessent as Treasury Secretary and reports of a potential Israel-Hezbollah ceasefire emerged, reducing the metal's safe-haven appeal. The risk-on sentiment led to a selloff, with gold futures trading at $2,628.5 per ounce. The market also reacted to a stronger dollar and changing expectations for U.S. interest rates, with the probability of a December rate cut decreasing. Analysts suggest gold prices may stabilize around $2,500 in the short term, with potential volatility as the Trump administration transitions.
