On October 25, gold prices rose as a result of falling U.S. Treasury yields, but the safe-haven demand for gold began to wane, making further gains difficult. After officials from all around the world tried to defuse the Israel-Hamas conflict, this development occurred.
After falling the previous two days, spot gold increased by 0.3 percent to trade at $1,975.61 per ounce. After reaching five-month highs last week, spot gold is currently trading below them. Continually stable at $1,986.70, U.S. gold futures. Spot silver was unchanged at $22.94 per ounce, platinum increased to $886.54, and palladium increased to $1,129.18, all of which were all positive percentage changes.
As China prepares to approve more public debt issuance, metal prices held steady on expectations of a stimulus. Prices for copper jumped by 1.5% while iron ore prices rose by 3%. Investors are closely following the battle as it unfolds amid rising Middle Eastern tensions as international leaders seek for a pause or ceasefire in the fighting between Israel and Hamas in the Gaza Strip.
Before the Federal Reserve makes its policy decision next week, the markets are also keenly expecting the release of the third quarter GDP figures for the United States on October 26 and the Personal Consumption Expenditures price index on October 27.
