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Hello everyone, today XM Forex will bring you "[XM official website]: The US government prioritizes allocating funds to ensure military salaries, or touches on sensitive issues. The price of gold has reached a new record high and is approaching 4120." Hope this helps you! The original content is as follows:
On Tuesday (October 14th, Beijing time), spot gold was trading around US$4,114.42 per ounce, and the price of gold surged again on Monday. A new all-time high reached around $4,116.87 per ounce, affected by renewed tensions in trade relations and expectations of a U.S. interest rate cut; U.S. crude oil traded near $59.65 per barrel. Oil prices rose on Monday as trade tensions eased.
The Reserve Bank of Australia released the minutes of the September monetary policy meeting, the IEA released the monthly crude oil market report, the IMF released the "Global Economic Outlook Report", Fed Governor Bowman delivered a speech, and Fed Chairman Powell delivered a speech at an event organized by the National Association of Business Economics.
Major U.S. stock indexes closed sharply higher on Monday, led by chipmakers such as Broadcom, after U.S. President Trump eased investor concerns as trade tensions escalated again.
Technology stocks related to artificial intelligence were the biggest winners from Monday's rebound. Broadcom surged nearly 10% after the edoyoko.company said it would partner with OpenAI to produce the startup's first in-house AI processor. The Nasdaq recorded its biggest one-day gain since May 27.
Sam Stovall, chief investment strategist at CFRA Research, said that AI is still the main driving force driving the market, and it is not surprising for investors to buy on dips. U.S. stocks fell sharply on Friday, with the S&P 500 and Nasdaq recording their biggest weekly losses in months.
Other AI-related chip stocks also rose, with Nvidia rising 2.8% and Micron Technology jumping more than 6%. The Philadelphia Semiconductor Index surged nearly 5%.
JPMorgan Chase, Goldman Sachs, Citigroup and Wells Fargo will release quarterly results on Tuesday, kicking off the third-quarter earnings season.
The earnings report will provide the latest clues on the economy's performance as the ongoing government shutdown delays the release of major official data. Analysts on average expected third-quarter earnings for S&P 500 edoyoko.companies to rise 8.8% year-over-year, according to London Stock Exchange Group (LSEG).
The S&P 500 Index rose 1.56% to close at 6654.72 points; the Nasdaq Index rose 2.21% to close at 22694.61 points; the Dow Jones Industrial Index rose 1.29% to close at 46067.58 points.
Ten of the 11 S&P 500 sectors rose, led by the edoyoko.comrmation technology sector, followed by the consumer discretionary sector, which rose 2.29%.
After Friday's sharp decline and a partial rebound on Monday, the S&P 500 is about 1.5% below its record closing high set on October 8.
In the Middle East, Hamas released the last of its Israeli hostages and Israel returned Palestinian detainees as part of a ceasefire pushed by Trump.
Oracle rose 5.1% after at least two brokerages raised their price targets for the AI cloud edoyoko.computing edoyoko.company.
Gold broke through $4,100 an ounce for the first time on Monday, hitting another all-time high of $4,116.87. Silver also hit a record high, affected by renewed tensions in trade relations and expectations of U.S. interest rate cuts.
Driven by factors such as geopolitical and economic uncertainty, expectations of U.S. interest rate cuts, and strong central bank buying, gold has climbed 56% this year and exceeded the $4,000 milestone for the first time last week.
Phillip Streible, chief market strategist at BlueLine Futures, said, "Gold can easily continue its upward momentum. By the end of 2026, we may see gold prices above $5,000." Streible added that steady central bank buying, solid ETF inflows, trade tensions and the prospect of lower U.S. interest rates are providing structural support for the market.
Traders see a 97% chance of the Fed cutting interest rates by 25 basis points in October and a 100% chance of a December rate cut. As a non-yielding asset, gold tends to perform well in low interest rate environments.
Analysts at Bank of America and Société Générale said on Monday they expected gold prices to reach $5,000 an ounce in 2026, while Standard Chartered raised its forecast for the average gold price next year to $4,488 an ounce.
Spot silver rose 3.1% to $51.82, having hit 52.The record high of $12 was boosted by the same factors that underpinned gold and tight spot markets.
Platinum rose 3.9% to $1,648.25; palladium rose 5.2% to $1,478.94.
Oil prices rose on Monday as trade tensions between the world's two largest economies eased. Tensions between the two countries previously sent benchmark crude prices to a five-month low on Friday.
Brent crude oil futures closed 0.9% higher at $63.32 a barrel; U.S. crude oil futures also rose 1% to close at $59.49 a barrel.
We have significantly eased the situation, Bessant said in an interview with Fox Business Channel, with DBS Bank analyst Suvro Sarkar noting that the market sell-off appears to have been contained, adding that the short-term outlook depends on the final outcome of trade negotiations.
PVM energy analysts pointed out in a report to clients that any reduction in international trade will only be negative for the oil market. On the demand side, Chinese customs data showed that crude oil imports increased by 3.9% year-on-year in September to 11.5 million barrels per day. At the same time, the Organization of the Petroleum Exporting Countries (OPEC) maintained its relatively high forecast for global crude oil demand growth this year and next.
OPEC said in its monthly report released on Monday that as the broader OPEC+ alliance advances production increases, the supply gap in the oil market will narrow significantly in 2026.
On the other hand, the prospect of peace in the Middle East has limited the rise in oil prices. Palestinian militant group Hamas released the last 20 surviving Israeli hostages on Monday under a U.S.-brokered ceasefire.
The U.S. dollar rose against the euro and yen on Monday after U.S. President Donald Trump made a shift in rhetoric that eased tense trade relations.
Eugene Epstein, head of trading and structured products at Moneycorp in New Jersey, said, "This is a bit like a repeat of what happened after Liberation Day. Traditionally, when there is any kind of risk aversion or stress across asset classes or markets, the dollar strengthens, and something like Liberation Day The U.S. dollar index, which measures the U.S. dollar's performance against a basket of six other currencies, was up 0.2% at 99.25 in late trading, recovering from the previous session's sharp losses.
Epstein added, I still think that among all advanced economy currencies, the US dollar remains the main safe haven; obviously, the Swiss franc is also. What happened last week was essentially the same playbook: any form of trade tensions meant selling the dollar. On Monday, the situation reversed, as trade tensions appeared to be easing. "
U.S. Treasury Secretary Bessent said on Monday that U.S. President Trump still plans to meet at the end of October, and the two sides are working hard to ease tensions caused by tariff threats and export controls.Tensions arise.
Foreign exchange and rates strategist Thierry Wizman said in an investor note that trade tensions may affect the Federal Reserve's interest rate decision at its next meeting.
He said: "If the prospect of imposing high tariffs again on October 29 still exists, then the FOMC will not feel edoyoko.comfortable, especially as U.S. inflation remains 'stalemate.' If anything, the prospect of higher tariffs may make the Fed less willing to cut interest rates, or more inclined to do so." Aiming for another "hawkish" interest rate cut. "
The French presidential palace announced Prime Minister Sebastien Lecornu's new cabinet lineup on Sunday and reappointed Roland Lescure, a close ally of President Macron, as finance minister. European markets were generally unaffected.
The euro fell 0.4% against the U.S. dollar in late trading, at $1.1571, after rising in the previous trading day. The dollar rose 0.81% against the yen to 152.36 yen. A public holiday in Japan reduced market trading.
The market is assessing the future path of Sanae Takaichi, the new president of the Liberal Democratic Party of Japan, as the Komeito Party withdrew from the ruling coalition last Friday, dealing a blow to her hopes of becoming Japan's first female prime minister.
The Japanese yen and Swiss franc are typical currencies used to finance carry trades and were hit harder than other currencies on Monday. The Australian dollar, which tends to rebound in risk-on environments, rose 0.7% to $0.6514, making it one of the best-performing major currencies on Monday. Sterling fell 0.18% to $1.3334.
Ukrainian President Zelensky met with visiting EU High Representative for Foreign Affairs and Security Policy Karas in Kiev on the 13th. The two parties focused on issues such as Ukraine’s winter energy support, the EU’s new round of sanctions against Russia, and the use of Russia’s frozen overseas assets. According to news released on the Ukrainian presidential website that day, Zelensky and Karas discussed in detail the situation of attacks on Ukraine’s energy infrastructure and measures to strengthen the resilience of Ukraine’s energy system. The two sides focused on the use of Russia's frozen overseas assets for Ukraine's defense and reconstruction, as well as the EU's upcoming new round of sanctions against Russia. Karas said that European experts are assessing the assistance Ukraine needs to repair its energy system, while the EU will continue to weaken the Russian economy through sanctions. In addition, the two sides discussed Ukraine's EU accession process. Zelensky said that Ukraine will edoyoko.complete the technical preparations for all chapters of EU accession negotiations before the end of November.
Buckingham Palace announced on October 13, local time, that German President Frank-Walter Steinmeier will pay a state visit to the UK from December 3 to 5. This will be the first state visit to the UK by a German head of state in 27 years. As Buckingham Palace is undergoing renovations, King Charles III and Queen Camilla will beCheng received the German delegation at Windsor Castle. The visit aims to strengthen the alliance between the two countries and deepen economic and trade cooperation. The itinerary includes political talks, business meetings, royal welcome ceremonies, state banquets, military parades and other traditional diplomatic etiquette.
On October 13, local time, the United States, Egypt, Qatar and Türkiye signed the Gaza ceasefire agreement document in Sharm el-Sheikh, Egypt. The Sharm el-Sheikh "Peace Summit" hosted by Egypt opened that night. The summit was co-hosted by Egyptian President Sisi and US President Trump.
On the evening of the 13th local time, the Egyptian Presidential Palace issued a statement after the conclusion of the Sharm el-Sheikh Peace Summit. The statement said that within the framework of ending the Gaza war, political settlement of the Palestinian issue, and consolidating the Middle East peace process, and based on the initiatives of Egypt and the United States, Egypt hosted a "peace summit" in Sharm el-Sheikh on the 13th. The summit was co-hosted by Egyptian President Sisi and US President Trump. The summit was attended by heads of state and government from Jordan, Qatar, Kuwait, Bahrain, Turkey, Indonesia, France, Cyprus, Germany, the United Kingdom, Italy, Spain, Greece, Pakistan, Canada, Iraq, the United Arab Emirates, Saudi Arabia, Japan and India. Also present at the meeting were the Secretary-General of the United Nations, the Secretary-General of the League of Arab States, the President of the European Council, and the President of International Football Federation.
On the 13th local time, members of the new French cabinet held their first working meeting. French Prime Minister Le Corny said that the new government’s “most important task” is to “survive this political crisis.” French President Macron, who is visiting Egypt, also called on all parties to "work for stability" earlier in the day. French Prime Minister Le Corny announced the cabinet list of the new government on the 12th. On the morning of the 13th, the French far-right party "National Alliance" and the left-wing party "Intrepid France" submitted a motion of no confidence in the new government to the National Assembly.
Russian Presidential Press Secretary Peskov once again emphasized in a briefing on the 13th that the operation of edoyoko.complex missiles such as "Tomahawk" requires the participation of American experts, so supplying these missiles to Ukraine may indeed lead to serious consequences. Peskov said that contacts between Russia and the United States on the Ukraine issue are still ongoing through corresponding channels. The United States knows that Russia-Ukraine negotiations have been suspended. The telephone talks between the leaders of Russia and the United States have not yet resulted in a clear agreement, but they can be arranged quickly. He also pointed out that Russian citizens deported by the authorities because they did not understand Latvian could return to their home country and start a new life.
U.S. Treasury Secretary Bessant said that his department is adjusting the flow of funds to ensure that the governmentDuring the government shutdown, U.S. military personnel can receive their salaries as scheduled, an operation that was previously considered "almost impossible" by his predecessor. "We have to prioritize payments. We are reallocating funds," Bessant said on Monday. Currently, the U.S. Treasury Department is still making some payments, including Social Security payments and Treasury interest payments, which do not require separate appropriations from Congress each year. The issue of priority payments has historically been a sensitive issue in the debt ceiling debate. In previous debt ceiling standoffs, investors generally assumed that the government would still give priority to repaying the principal and interest of national debt in the worst-case scenario. However, former Treasury Secretary Yellen and many of her predecessors have stated many times that the Treasury payment system does not have the technical conditions for “selective payments”. Bessant said on Monday that the government was taking "some pretty unconventional measures," citing Vice President Vance's statement the day before.
It has become a market consensus to continue to be bullish and increase their allocation to China's core assets. Recently, foreign investment institutions have not only conducted in-depth selection of targets through high-frequency research, but also quickly made substantive allocations after the research, highlighting the clear logic of being bullish on the long-term value of China's A-share market. According to statistics from Wind edoyoko.comrmation, since September as of October 13, 254 foreign-funded institutions including Goldman Sachs, Morgan Stanley, and BlackRock have surveyed A-share listed edoyoko.companies a total of 648 times, among which Point72 Asset Management edoyoko.company has surveyed 20 times, ranking first. At the same time, actions on the capital side followed suit. The latest report released by Morgan Stanley showed that in September this year, edoyoko.com foreign capital inflows into the Chinese stock market rebounded to US$4.6 billion, the highest in a single month since November 2024.
Wang Jun, deputy director of the General Administration of Customs, said at a press conference of the State Council edoyoko.comrmation Office that currently, the process of economic globalization is encountering "headwinds and countercurrents". Many international organizations have pointed out that the global economic outlook faces major risks, and the uncertainty of trade policies has become the main factor restricting the development of the world economy. However, economic globalization is an unstoppable historical trend, and maintaining the resilience and stability of global industrial and supply chains is in the edoyoko.common interest of all countries in the world. my country is an important force in maintaining the stability and smoothness of the global production and supply chain. Domestic storage and incremental policies continue to be effective, and foreign trade edoyoko.companies continue to meet the needs of the international market with high-quality supplies. These will continue to inject new momentum into my country's exports.
The above content is all about "[XM official website]: The US government prioritizes allocating funds to ensure the salary of military personnel, or touches on sensitive issues. The price of gold hits a new historical high and approaches 4120". It is carefully edoyoko.compiled and edited by the XM foreign exchange editor. I hope it will be helpful to your trading! Thanks for the support!
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