[MARKET UPDATE] Spot XAU continues to reach new heights, currently up 2% at USD 4860/oz
Newsquawk Staff ·
Spot XAU continues to reach new heights, currently up 2% at USD 4860/oz.
What it means
The 2% rise in spot gold (XAU) to USD 4860/oz suggests strong demand or heightened safe-haven buying, possibly driven by geopolitical tensions or inflation concerns. This increase could have broader implications for inflation expectations and support commodity-linked currencies, while impacting risk sentiment across markets.
- [MARKET ANALYSIS] Asia-Pac stocks trade mixed folowing the continued tech rout stateside where the Nasdaq 100 slipped into a correction and with markets cautious ahead of the US midterm election
- [MARKET ANALYSIS] Dollar is flat ahead of the midterms, while yuan weakens after the PBoC raised its FX RRR
- [MARKET ANALYSIS] T-note futures pulled back after gaining yesterday alongside a slump in oil prices, while demand is contained with cash treasuries trading shut overnight amid the Tokyo closure
- [MARKET ANALYSIS] Oil prices are contained after dropping 8% on Monday amid hopes for diplomacy and despite a report that the US conducting a small-scale, defensive attack on Iran's Qeshm Island
- [MARKET UPDATE] Asia-Pac stocks begin mixed with underperformance in the KOSPI following the continued tech rout stateside which saw the Nasdaq 100 dip into a correction, while demand is contained amid the holiday in Japan and looming US midterm elections
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