TSX futures dip amid gold price fall; Mideast peace hopes in focus

Spot gold prices declined by 1.3% to trade near $4,301.68 per ounce, while gold futures dropped 0.9% to $4,337.57 per ounce. The pullback in the precious metal came under pressure from a strengthening U.S. dollar, with the U.S. Dollar Index touching its highest level since late July. Ongoing expectations for further interest rate hikes by the Federal Reserve also contributed downward pressure on non-yielding bullion, making it more expensive for overseas buyers. The decline in commodity prices weighed on Canada's S&P/TSX futures, while broader market sentiment remained cautious ahead of a high-stakes U.S.-China summit between Donald Trump and Xi Jinping. Geopolitical tensions in the Middle East showed potential signs of diplomatic easing following sideline discussions at the United Nations General Assembly, which dampened safe-haven demand for gold. Meanwhile, tech equities saw continued attention driven by Meta Platforms' newly launched AI assistant, contrasting with weakness across traditional financial services stocks.