Gold futures surged 2% on Monday with follow-through overnight on increased likelihood of US rate cuts next month

Russell 2000 accelerated higher on Friday after Fed President Williams comments turned sentiment around

Markets now pricing 80.7% chance of 25bp Fed cut in December, up from 50% a week ago

Gold up 55% year-to-date, driven by central bank buying, ETF inflows, and momentum behind rate cuts

Equity markets showing red with caution returning after huge Monday gains; AI competition heating up

10-year Treasury yields down at 4.04% with big decline Friday and Monday

Dollar index at 100, euro at 1.1539 with downside pressure on German economic concerns

VIX collapsed to 20.07; S&P 500 dealers at neutral gamma, not amplifying moves