Silver prices (XAG/USD) rose to around $48.65 in early European trading on Wednesday (October 8th). The metal strengthened slightly, approaching a 14-year high amid growing expectations of a Fed rate cut and the ongoing US government shutdown. The US government shutdown entered its eighth day on Wednesday. The increased level of uncertainty could drive safe-haven inflows, supporting silver prices. US President Donald Trump said on Tuesday that his administration plans to lay off federal employees if the shutdown continues beyond Monday, adding that he would provide details on the layoffs in...
Gold surged above $4,000 an ounce for the first time on Wednesday (October 8th) as investors flocked to the safe haven asset's historic rally to protect themselves from global economic and geopolitical uncertainty, while also betting on a US interest rate cut. Spot gold rose 1.3% to $4,034.59 an ounce at 09:31 GMT. US gold futures for December delivery rose 1.3% to $4,056.80. Silver also followed gold's rally, rising 2.2% to $48.85 an ounce, just above its all-time high of $49.51. The rally was driven by a combination of factors, including expectations of interest rate cuts, continued...
Oil prices rose more than 1% on Wednesday (October 8th), boosted by a smaller-than-expected production increase from the OPEC+ producer group next month, although concerns about oversupply limited further gains. Brent crude futures rose 82 cents, or 1.3%, to $66.27 a barrel at 09:45 GMT. U.S. West Texas Intermediate crude rose 85 cents, or 1.4%, to $62.58. Benchmark crude prices were relatively stagnant in the previous session as investors weighed signs of oversupply against a smaller-than-expected November production increase from the Organization of the Petroleum Exporting Countries...