Gold

Key events: USA - Initial Jobless Claims The S&P 500 and Nasdaq continued their upward momentum on Wednesday, achieving record-high closes for the third consecutive session. Gains in the technology sector primarily drove this rally, as market participants interpreted Federal Reserve Chair Jerome Powell's remarks as signaling a cautious but stable approach to monetary policy. Powell refrained from suggesting any imminent risk to a potential December rate cut, keeping investors optimistic.

Key events: USA - Crude Oil Inventories USA - 30-Year Bond Auction The S&P 500 surged on Election Day, Tuesday, driven by continued gains in the tech sector. The Dow Jones Industrial Average rose by 427 points, or 1%, while the S&P 500 increased by 1.2%, and the NASDAQ Composite gained 1.4%.

Key events: Australia - RBA Interest Rate Decision (Oct)                 USA - JOLTs Job Openings (Aug)                On Monday, the Dow Jones Industrial Average closed lower, largely driven by declines in the energy and utilities sectors. This decline coincided with a continued rise in Treasury yields, following the US government's last-minute funding measure to avert a shutdown and keep the government funded for the next 45 days.

In the world of financial markets, certain assets have consistently stood the test of time as reliable sources of value and security. Among these, gold has held a prominent position for centuries, earning its reputation as a safe haven and a store of wealth. As we navigate the year 2023, a landscape marked by evolving economic dynamics and global uncertainties, the allure of gold as a strategic addition to trading portfolios remains as strong as ever.

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Key events: UK – Average Earnings Index +Bonus (Sep) UK – Claimant Count Change (Oct) USA – PPI (MoM) (Oct)   The market was swept by another wave – this time of incredible positivity and general joy. Indices are rising very confidently and briskly no matter what, the dollar index is falling, and bond yields have stopped... Many things happened last week. Let's bring it all up in order.

Key events: UK - Construction PMI (Sep) Eurozone - ECB Publishes Account of Monetary Policy Meeting   USA - Initial Jobless Claims Canada - Ivey PMI (Sep)  

Key events: USA - Building Permits (Aug)

Gold is one of the most traded commodities in the world along with oil, natural gas, and grain. But this precious metal is also one of the most interesting assets because it is considered to be a major safe-haven asset and is used to hedge the risk of inflation. In addition, gold is widely used in various industries including jewelry, dentistry, medicine, cell phone manufacturing, etc.