Market Overview Analysis by Investing.com (Günay Caymaz) covering: XAU/USD, US Dollar Index Futures, Gold Futures, Brent Oil Futures. Read Investing.com (Günay Caymaz)'s latest article on Investing.com
Global markets are kicking off the week with heightened volatility, fueled by escalating tensions between Israel and Palestine, which have now reached a level of official war.
Following last week's mixed employment data, there is a growing likelihood that expectations of a 25 basis point interest rate hike by year-end may gain further momentum.After multiple tests of its Q2 lows of around $72, Brent crude oil gathered momentum towards $95 by late September, driven by supply cut decisions by Russia and the Arab Emirates.
Market sentiment favoring ongoing monetary tightening will likely continue to push U.S. bond yields upward, maintaining the strength of the dollar in the final quarter of the year. An offsetting factor that could mitigate this impact is a potential resurgence in demand for gold.In tandem with the rise in risk perception leading to increased demand for commodities, the gold market witnessed a gap-up opening.
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