International News 01 October 2025
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Gold Surges Past $3,800 Amid Safe-Haven Demand and Fed Expectations
Spot gold soared above $3,800 per ounce for the first time on Monday (Sept 29, 2025), closing 2% higher at $3,833.55. Futures for December delivery also gained 1.2% to $3,855.2. The rally was fueled by strong safe-haven inflows, expectations of further Federal Reserve rate cuts, concerns over a potential U.S. government shutdown, and mounting geopolitical risks. A weaker U.S. dollar, which slipped 0.2%, further boosted gold’s appeal to international buyers. The surge adds to gold’s 43% year-to-date gain, making it one of the best-performing assets of 2025. Traders are now closely watching U.S. PCE inflation data and upcoming Fed meetings in October and December, with markets pricing in one to two more rate cuts this year. Meanwhile, global uncertainty—from Russia’s advances in Ukraine to political instability in Washington—continues to underpin gold demand. Investor appetite is also evident in ETFs, while major mining firms Newmont and Barrick announced CEO transitions, signaling shifting dynamics in the industry alongside record-high gold prices.
U.S. Gold Reserves Surpass $1 Trillion Amid Record Prices
The U.S. Treasury’s gold reserves have surged past $1 trillion in value after gold prices hit an all-time high of $3,824.50 per ounce on Monday (Sept 29, 2025). While Congress had originally valued the reserves at just over $11 billion in 1973, based on a gold price of $42.22 per ounce, today’s market valuation highlights the massive reappraisal. The updated valuation is estimated to add roughly $990 billion to the Treasury’s balance sheet, underscoring how the historic rally in gold has significantly boosted America’s financial stockpile. Unlike most countries, the United States holds its gold reserves directly under the Treasury, while the Federal Reserve issues certificates equivalent to the Treasury’s deposits. Over half of these reserves are stored in Fort Knox, with the rest split between West Point, Denver, and a secure underground vault beneath the New York Fed. The recent surge, driven by safe-haven demand, ETF inflows, and renewed Fed rate cuts, raises broad implications for financial stability, liquidity, and the Fed’s balance sheet management. Similar moves to revalue reserves have been taken historically by nations such as Germany, Italy, and South Africa.
U.S. to Impose Heavy Tariffs on Imported Furniture
President Donald Trump announced on Monday (Sept 29, 2025) that further details regarding new tariffs on imported furniture will soon be revealed, following last week’s decision to impose duties of up to 50% on certain products. Starting October 1, the U.S. will enforce a 50% tariff on imported kitchen cabinets and vanities, as well as a 30% tariff on upholstered furniture. Trump highlighted the move as an effort to protect American jobs, particularly in North Carolina, the historic hub of U.S. furniture manufacturing. The tariffs pose a significant challenge for the domestic industry, as U.S. production capacity remains limited and reliance on imports from China, Mexico, and Vietnam is high. Executives from major retailers like Williams-Sonoma and RH have warned that higher tariffs could disrupt supply chains and squeeze consumer demand. With consumer prices already rising due to supply chain disruptions and commodity costs, the new furniture tariffs are expected to further drive up costs for American households, even as domestic manufacturers struggle to meet market demand.
https://internasional.kontan.co.id/news/trump-segera-umumkan-rincian-tarif-impor-furnitur-hingga-50