Gold surged to record highs, defying the strong dollar, while global stocks dipped as investors remained cautious ahead of the U.S. election. With rising U.S. Treasury yields and potential market volatility, attention turns to the economic impact of election outcomes.
Gold prices reached record highs on Wednesday, defying the dollar's strength, which has pressured both the yen and the euro. Meanwhile, global stock markets dipped as investors hesitated to make significant moves ahead of the upcoming U.S. election in two weeks.
Recent U.S. economic data has suggested continued growth, leading investors to reconsider the extent to which the Federal Reserve may cut interest rates.
U.S. Treasuries have faced declines, resulting in three-month high yields, driving the dollar to multi-month peaks against the euro, pound, and yen, which is now trading at around 150 per dollar, prompting caution from Japanese officials.
Despite the slight downturn in stocks, the market remains close to record highs, indicating that investors are currently optimistic about the economy and corporate earnings. The MSCI All-World Index was down 0.1%, mirroring similar declines in Europe and U.S. futures.
With the election just weeks away, market volatility is anticipated. Betting odds have recently shifted in favor of Donald Trump over Kamala Harris, though opinion polls indicate a tightly contested race. Investors are particularly attentive to the potential impact of another Trump presidency, especially his proposed tariffs and immigration restrictions, which could drive inflation higher.
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Gold prices rose above $4,000 an ounce for the first time on Wednesday, fuelled by investor demand for safe-haven assets amid rising geopolitical tensions and expectations of U.S. interest rate cuts.
On 2 September, spot gold briefly broke through the historic threshold of $3,500 an ounce, before settling just under that level at $3,494. This rally not only eclipsed the previous peak set in April but also cemented gold’s position as one of the best-performing assets of 2025.
The price of gold surged sharply on Wednesday, reaching a new record of $3,530.08 per ounce. Analysts say the rise is driven by expectations of a U.S. Federal Reserve (Fed) rate cut in September and concerns over the central bank’s independence.
The United States is preparing to launch a new round of Venezuela-related operations in the coming days, as President Donald Trump’s administration intensifies efforts to pressure President Nicolás Maduro’s government and targets what it calls Venezuela’s role in the regional drug trade.
Italy captured a remarkable third consecutive Davis Cup title on Sunday, with Matteo Berrettini and Flavio Cobolli securing singles victories in a 2-0 triumph over Spain in Bologna.
Cameras from the United States Geological Survey (USGS) on Saturday (November 22) captured Hawaii's Kilauea volcano spewing flowing lava from its crater in its latest eruption.
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European shares climbed on Thursday, as a relief rally swept through global markets after artificial intelligence (AI) bellwether Nvidia reported strong earnings, while investors awaited the release of delayed U.S. jobs data.
Mainland China and Hong Kong equities slipped on Tuesday, Reuters reported, as investors grew cautious ahead of delayed U.S. economic data expected to clarify the Federal Reserve’s policy outlook.
A federal jury in California ruled on Friday that Apple must pay $634 million to Masimo, a medical-monitoring technology company, for infringing a patent related to blood-oxygen reading technology.
Wall Street closed sharply lower on Thursday, dragged down by steep losses in Nvidia, Tesla, and other artificial-intelligence heavyweights, as investors dialed back expectations for further Federal Reserve interest-rate cuts amid renewed inflation concerns and mixed signals from policymakers.
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