World Gold Council: Q3 central banks will continue to acquire gold at unprecedented levels, supporting gold prices

Global central banks have been purchasing gold at an unprecedented rate, which has increased demand for the metal (excluding OTC) to 1,147 tons in the July–September quarter, 8% more than its five-year average, according to the most recent data. The third highest quarter in the World Gold Council’s data series saw net central bank purchases…

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Rising desire for safe havens due to Middle East concerns has boosted silver’s increase

The value of silver increased marginally, by 0.19% to hit 71717, mostly as a result of the ongoing demand for safe haven assets amid growing Middle East tensions. Positive economic data, such as stronger-than-expected U.S. consumer spending in September, a healthy third-quarter GDP, and stronger durable goods orders for September, all contributed to this upswing….

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Aluminium decreased even though the world’s primary aluminium output increased 2.7% year over year in September

The price of aluminium closed at 203.85 after declining by -0.54%. Remarkably, the International Aluminium Institute (IAI) revealed that global primary aluminium output reached 5.871 million tonnes in September, up 2.7% year over year. In September, China’s aluminium production increased by 5.3%, and for the first nine months of the year, it increased by 3.3%….

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Forecasts of cooler temperatures and increased demand for heating caused natural gas prices to rise

Anticipated colder weather and higher heating demand in the upcoming week caused the natural gas market to see a 1.86% price hike, ultimately settling at 279.9. Record-high output levels and a generally benign weather forecast through early November did not prevent this growth. Notably, gas output in the Lower 48 U.S. states surpassed prior records…

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Due to the uncertainty surrounding the Israel-Hamas conflict, oil prices have risen

Tuesday’s early Asian trading saw an increase in oil prices as investors maintained their concern that the Israel-Hamas conflict could spread into a larger battle in the oil-exporting area, potentially disrupting supply. Brent crude prices had risen by 70 cents, or 0.8%, to $90.53 per barrel, while U.S. West Texas Intermediate crude futures had gained…

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