basics
* Spot gold rose 0.1% to $2,778.27 an ounce at 0026 GMT. Gold bullion inched its way up to an all-time high of $2,778.79, marking a significant market bull run.
*U.S. gold futures rose 0.4% to $2,790.60.
– As the Nov. 5 US election enters its final stages and polls show the race for the White House remains close, uncertainty is driving demand for bullion.
* The number of job openings in September fell to the lowest level in more than three and a half years, according to data released Tuesday by the U.S. Department of Labor’s Job Openings and Labor Turnover Survey (JOLTS), despite a downward revision to the previous month’s data. is a sign of recession. The labor market continues to cool down. Meanwhile, the U.S. Consumer Confidence Index exceeded expectations, measuring 108.7 in October, up from 99.2 the previous month and the highest level in nine months. *The statistics make it almost certain that Fed policymakers will cut short-term borrowing costs by a quarter of a percentage point next week.
*In order to further assess the Fed’s policy stance ahead of its next interest rate decision on November 7th, attention will now turn to the ADP employment, US personal consumption expenditure, and employment statistics scheduled for later that day.
*Bullion thrives in a low interest rate environment and is considered a hedge against political and economic uncertainty.
*The Gaza Ministry of Health announced that at least 93 Palestinians were killed or missing in Israeli attacks in northern Gaza.
*At the physical level, Indian gold buyers defy record highs and buy ahead of Dhanteras and Diwali festivals starting on Tuesday, with bullion continuing to rally and offering promising returns as stock markets cool. I expected it to bring.
* Spot silver rose 0.2% to $34.51 an ounce, palladium rose 0.5% to $1,050.42 and platinum fell 0.9% to $1,211.37.
Data/Events (GMT) 0630 France GDP preliminary figures QQ Q3 0855 German unemployment rate SA October 0855 German unemployment rate SA October 0900 Germany GDP preliminary figures QQ SA Q3 0900 Germany GDP preliminary figures YY NSA Q3 1000 EU GDP preliminary figures YY Q3 1000 EU GDP preliminary figures YY Q3 1000 EU consumer confidence final October 1230 US GDP last quarter Q3 1300 Germany CPI preliminary YY October 1300 Germany HICP preliminary YY October
