Gold hit an even more of its all-time high on Monday, plunging into history after trading close to $4,000 per ounce as traders scrambled for safety during the ongoing US government shutdown and increased bets on reducing the Federal Reserve rate.
Spot Gold surged from 1.2% to $3,992 after touching $3,944 earlier in the day, with US gold futures also surged from 1.2% to $3,965 in December.
Gold’s Rally has risen almost 50% this year, unforgiving thanks to aggressive purchases by global central banks, influx into gold-backed ETFs, weaker dollars, and retail investors stacking bullion for self-protection.
Asian markets are rising behind Japan, and the yen is rising sharply
In Asia, the markets have put their own twist on the day’s turmoil. After the liberal Democrats chose Sanaetakachi as their new leader on Saturday, Japan’s Japan 225 index ripped over 4%, establishing her as the first female prime minister, as Cryptopolitan reported extensively.
Nikkei closed 4.75% at 47,944.76, carried by real estate, high-tech and consumer stocks. In the memo, Credit Agricol Siv said it is likely that Kochi will encourage the Bank of Japan to stick to simple policies, but suggested that it could support 25 point-rate hikes by January 2026.
“Recognizing that the current economy remains weak, the Takagi administration is expected to completely shift its policy direction to a new approach (a complete overhaul) that seeks to expand investment and demand through public-private partnerships,” the bank wrote.
Data from CNBC show that the Topix index rose 3.1% to 3,226.06, rising from 3,226.06 to 3,226.06, setting its own record, but over 1.81% weakened the 1.81% that had not violated in August.
Traders recall that in October 2022, they slipped past 151, forcing the Ministry of Finance to intervene. Investors are currently monitoring repeated actions from Tokyo.
Elsewhere in the product, it rose 0.7% in the morning in Singapore to $10,785.50. Iron ore slipped 0.3% tonne to $103.60, with the thin volume that China headed for on holidays.
Bitcoin becomes stable as inventory is split
Bitcoin joined the story, hitting its new highest high on Sunday for the first time since August, with an outstanding victory at $125,689. At the press conference, Bitcoin is stable just over $124,000, with analysts split into:
Rachael Lucas of BTC Markets said traders view $135,000 as the next barrier and are looking at a vision of $150,000 if momentum is held. However, with leverage building, optional activities come with bullish bets, with over 60% of the positions being mounted on the call, so inversion can cause volatility.
Lucas warned that such heavy optimism could lead to cascade liquidation if emotions were torn apart. Coingecko’s data shows October is Bitcoin’s highest month, earning an average of 22.5% over the past decade. Traders branded it as “Up to Ber.”
US stock futures offered little direction. Dow Jones’ industrial average futures exceeded 37 points (0.1%). S&P 500 and Nasdaq-100 futures also rose 0.1%. The S&P 500 and Nasdaq Composite concluded their fourth gain in five weeks, increasing 1.1% and 1.3%. The Dow rose 1.1% last week, rising three times in four weeks.
Wall Street predicted it, Fundstrat’s research director Tom Lee said, “It’s a ‘sidebar’ issue and the probability of strong stocks being strongly supported from October to December this year.
In Europe, momentum has fallen apart. The Stoxx 600 fell 0.4% at 9:05am in London at 9:05am after profits from five straight sessions.
The French CAC 40 fell 2% after Sebastian Lecorne threw Paris into more political turmoil after resigning to his role for a few weeks. French banks led the losses as Societe Generale, BNP Paribas and Credit Agricole fell more than 5%.
