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Something Old, Something New: Chinese Couples Redefine Wedding Jewelry Traditions

Gold jewelry remains popular for Chinese weddings, but young couples are increasingly opting for cost-effective alternatives. While traditional gold pieces like dragon-and-phoenix bracelets are still sought after, many newlyweds are choosing more affordable options or forgoing elaborate jewelry altogether. Despite higher gold prices, the demand for wedding jewelry is expected to grow, with gold maintaining its dominance in China's jewelry market. However, the younger generation is now making decisions based on personal preferences and budget considerations, shifting away from parental influence.

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Israel-Hamas Conflict Intensifies on War Anniversary

The Israel-Hamas conflict has escalated once again, with Hamas launching rockets at Tel Aviv in response to Israeli airstrikes on Gaza. This exchange of fire, along with Israel's redeployment of troops to northern Gaza, highlights the ongoing threat perceived by Netanyahu's government despite significant losses inflicted on Hamas over the past year of war. The conflict continues to exact a heavy toll on civilians, with thousands killed and widespread destruction in Gaza.

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Robust Jobs Data Sparks "No Landing" Concerns Among Bond Traders

The recent jobs report has revived the "no landing" scenario in the bond market, challenging previous expectations of slowing growth and aggressive rate cuts. This unexpected economic strength, characterized by rapid job growth, falling unemployment, and rising wages, has caused Treasury yields to surge and forced investors to reconsider their positions on potential interest rate reductions. The situation has created a complex landscape for traders and the Federal Reserve, as they grapple with the possibility of continued economic expansion and potential inflationary pressures.

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Inflation Data and Q3 Earnings Take Center Stage This Week

The upcoming week will focus on two key economic events: the release of the October Consumer Price Index (CPI) report and the start of third quarter earnings season. The CPI report will provide crucial insights into inflation trends, while major financial institutions like JPMorgan, Wells Fargo, and BlackRock will kick off earnings reports on Friday. These events will likely shape investor sentiment and market movements in the days ahead.

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Gold Holds Ground as Strong US Jobs Data Tempers Rate Cut Expectations

Gold held steady as traders adjusted their expectations for Federal Reserve rate cuts in light of robust US jobs figures. Trading close to $2,660 an ounce, gold remained below its recent record high. Treasury yields climbed back to 4%, reducing the probability of a major rate cut in November. Despite gold's 29% rally this year, fueled by rate cut optimism and geopolitical factors, recent market data indicates a more measured approach from investors.

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