Asian Stocks Rise, Precious Metals Hit Records on Fed Rate Cut Bets

GLOBAL MARKET - SINGAPORE. Asian stocks jumped to six-week highs on Monday, while the dollar hovered near its lowest in almost three months on expectations of the Federal Reserve cutting interest rates next year, which have also sparked a fierce rally in precious metals.

Silver climbed above the $80-per-ounce-mark for the first time in volatile trading on Monday, while platinum and palladium fell sharply after hitting all-time highs. Gold eased 0.45% but has repeatedly breached record highs this year and is on track for its biggest annual gain since 1979 with a rise of over 72%.