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⚡️ Weekly macro highlights: Gold and silver plunge, technology stocks face sell-off, Federal Reserve December rate-hike uncertainty resurfaces

According to BlockBeats,October 31, global financial market volatility intensified this week. Gold and silver fell sharply, while Brent crude oil is on track for a fifth consecutive weekly gain; U.S. technology stocks saw concentrated selling,AI capital expenditure and cash flow pressures became the market focus. The Federal Reserve held rates steady, but Chair Warsh did not explicitly rule out December rate hikes, further widening market divisions over the monetary policy outlook.

In precious metals, spot gold closed Friday at 3876.89 USD/ounce, down cumulatively this month 6.7%; silver closed at 49.13 USD/ounce,October with a decline exceeding 18%. Strong U.S. economic and inflation data reinforced expectations for high interest rates, while rising real interest rates continued to weigh on gold and silver prices. In crude oil, risks of supply disruptions in the Middle East supported prices, with Brent crude oil on track for a fifth consecutive weekly gain.

In U.S. equities,AI trading enthusiasm cooled markedly, and the Nasdaq and S&P 500 indices fell for a third consecutive week, with the Nasdaq October down cumulatively 5.3%, marking 2025's worst monthly performance since March. Alphabet once plunged about 13%on capital expenditure and cash flow concerns, while Intel slumped 28.58%on Friday, its worst single-day performance since 1974. Apple's closing market capitalization rose to 5030000000000 USD, surpassing Nvidia's 4930000000000 USD, regaining its position as the world's most valuable listed company.

On monetary policy, the Federal Reserve this week held rates steady by a 10-to-2 vote, with officials advocating a 25-basis-point rate hike. Chair Warsh said that U.S. economic growth remains strong, but inflation has stayed above target for nearly 6 years, and future policy will depend on incoming economic data. U.S.September core PCE rose year on year by 3.1%, while third-quarter GDP grew at an annualized rate of 3.4%。CME. Data show that the market expects the probability that the Federal Reserve will December raise rates by 25 basis points to be approximately 75%。

On the international situation, U.S.-Iran diplomatic mediation continued to advance, and Qatar proposed a 7-day ceasefire plan, but significant differences remain between the two sides on sanctions, port blockades, the Strait of Hormuz, and the nuclear program. Meanwhile, the United States is still discussing the possibility of resuming military strikes against Iran, and Middle East supply risks have yet to subside.