Gold buyers appear unstoppable at the start of a fresh week, early Monday, despite the renewed US Dollar (USD) upswing and a risk-on rally on global stocks. Gold is finding demand due to increased safe-haven flows, mainly driven by the murky United States (US) economic outlook in the face of the extended government shutdown, which has entered a seventh day. There are no public signs that the Republican and Democratic lawmakers are making any efforts to end the impasse on reopening the federal government. This deadlock has raised worries over layoffs amid already weakening US labor market...
WTI crude oil futures climbed 1.3% to $61.7 per barrel on Monday after OPEC+ agreed to a smaller-than-expected production increase, easing fears of a major supply surge. The group, which includes Saudi Arabia and Russia, said it would raise output by just 137K barrels per day in November matching October's increase despite earlier reports suggesting a much larger boost. The restrained move came amid diverging views within the alliance, with Moscow favoring a modest rise to protect prices and Riyadh pushing for a more aggressive expansion to reclaim market share. Prices were further...
USD/JPY pair edges higher to near 150.35, the highest since August 1, during the early Asian session on Tuesday. The Japanese Yen (JPY) weakens against the US Dollar (USD) on political stability concerns after Japan's ruling Liberal Democratic Party (LDP) elected a new leader. Traders will keep an eye on the Fedspeak later on Tuesday. Japan's ruling party has elected Sanae Takaichi as its new leader on Saturday, positioning the 64-year-old to be Japan's first female Prime Minister. Her victory caused traders to reduce bets that the Bank of Japan (BoJ) will hike interest rates this month,...