Gold extended its rally and set a new record in the Asian session on Wednesday (October 15th), with the market now targeting a breakout of the psychological $4,200/oz level. The rise was driven by a combination of expectations of a Fed interest rate cut, a weakening US dollar, and hedging flows amid global anxiety. Risk…
The Hang Seng Index rose 1.6% to 25,836.06 at 10:12 a.m. local time on Wednesday, snapping a seven-day losing streak (~-7%). The rise was driven by expectations of a Fed rate cut this month after Jerome Powell signaled a 25-bps rate cut, offsetting concerns about renewed US-China tensions (the “cooking oil” issue). Hang Seng Tech…
The Nikkei index rose 0.6% to 47,131.16, boosted by hopes of a Fed rate cut. Fed Chairman Jerome Powell signaled the possibility of a 25-bps rate cut later this month, according to Commerzbank research—enough to spark buying. Among the top gainers, Modec surged 6.1%, Sanrio rose 4.7%, and Aeon also added 4.7%. The gains were…
Silver broke through $52/oz again on Wednesday, remaining near its record high after a global supply crunch sparked a major rally. The London market was particularly tight: a short squeeze caused lease rates to spike by more than 30% on Friday, making rollover costs for short positions unreasonable. Indian demand further squeezed supply, leading some…
