speculative predictions of Israeli strikes on Iran, gold prices surged above $2,400 this week, resulting in more sanctions on the country's oil sector.

 Gold Market News

Due to increased demand for safe havens, particularly in light of the deteriorating situation in the Middle East, fears of Israeli strikes on Iran caused gold prices to soar in Asian trade on Friday, nearly reaching all-time highs.

Gold futures expiring in June saw an increase as high as $2,433.0 per ounce, while spot gold reached as high as $2,417.79. Just a little bit below the record high of $2,430.96 per ounce set last week, spot prices were.

Focus has shifted to Iran-Israel after reports of explosions throughout Iran
Reports from many media outlets, including Iranian news agencies, depict explosions in various regions of Iran, Syria, and Iraq. According to several US news sites, US officials claimed that Israel retaliated against Iran for an attack that occurred last week.

The explosions in Isfahan, which is close to many nuclear facilities in Iran, were especially concerning.

Earlier this week, Iran issued a warning to Israel not to attack its nuclear sites, threatening to even ponder developing nuclear weapons in such a situation.

The need for safe havens is driving weekly advances in gold prices.
Although there have been recent warnings about higher-for-longer U.S. interest rates, fears of a rising conflict in the Middle East prompted a widespread safe haven rush into gold, which helped the yellow metal increase.

The news about Iran and Israel caused the dollar to spike sharply, but it didn't seem to have much of an impact on gold prices.

With spot prices up almost 3% over the previous seven days, Friday's advances put gold prices on track for significant weekly gains.

Additionally, gold saw increases for a fourth week in a row this week as demand for safe haven assets was supported by the Middle East's deteriorating geopolitical situation.

The news of the strikes on Friday caused other precious metals to rise strongly as well. Silver prices increased 1.1% to $28.70 an ounce, while platinum futures increased 0.9% to $958.10 an ounce.

Positive prognosis for industrial metals due to tighter supply

Prices for industrial metals such as copper and aluminium reached all-time highs on Friday, 2024, driven up by the possibility of limited supply following the United States' tightening of sanctions against Russian metal shipments.

One-month copper futures increased by 0.3% to $4.4445 a pound, while three-month copper prices increased by 0.5% to $9,799.0 a tonne. Since May 2022, both contracts were at their highest points.

Aluminium futures reached their highest level since January 2023, up 1.3% to $2,651.0 a tonne. 

 

Despite tales of explosions in Iran, oil prices rise by more than 3% to about $90.

 Friday's Asian trading saw a strong increase in oil prices as Middle East tensions resurfaced following reports by Iranian news sources of many explosions throughout the nation that seemed to be Israeli strikes.

According to Iran's Fars News Agency, explosions were reported on Friday in sections of southern Syria, central Iran's Isfahan, and parts of Iraq. According to ABC News, US authorities claimed that Israel has taken revenge on Iran.

By 21:54 ET (01:54 GMT), West Texas Intermediate crude futures expiring in May increased 3% to $85.16 a barrel, while Brent oil futures expiring in June gained nearly 3% to $89.74 a barrel.

Despite turning around most of their weekly losses, both contracts were still expected to finish the week slightly down.

After Iran's blasts, Middle East tensions are once again in the spotlight.
Due to traders' haste to restore a risk premium to oil prices, the Middle East situation has escalated due to Israel's possible response.

Given the explosions' locations, especially in Isfahan, it's possible that Israel also targeted Iran's nuclear facilities.

TOnly one day prior, Iranian officials had forewarned Israel about potential reprisal strikes, with a specific focus on Tehran's nuclear facilities. Tehran stated that if Israel attacked the nation's nuclear sites—which are currently only utilised for peaceful, power-generating endeavors—it may reevaluate its development of nuclear weapons.

Any such actions by Iran might signal a significant intensification of the confrontation in the Middle East.

About a week has passed since Iran launched a missile and drone strike against Israel last week in reprisal for what it believed to be an Israeli strike on an embassy in Damascus. This suggests that possible Israeli strikes on Iran are imminent.

According to previous UN estimates, Iran was enriching uranium up to 60%, which is higher than what is needed to generate commercial power. However, it was also less than the 90% enrichment needed to make an atomic weapon.

Weekly losses for oil are still anticipated.
However, oil prices were still expected to decline over the previous seven days, even after Friday's improvements.

A big factor influencing oil prices this week was the strengthening of the dollar, which came after encouraging U.S. economic statistics and several Fed members' warnings that interest rates would stay higher for longer.

A rising dollar adds a currency-related premium for foreign customers, which puts pressure on the demand for crude.

Fears that tight policy will impede global economic growth are exacerbated by the possibility of higher-for-longer rates, which is also bad news for the demand for oil.

It appeared that traders had mostly priced in the possibility of a June rate cut by the Fed.

The United States' decision to reinstate its oil sanctions against Venezuela, based on the country's inability to hold free and fair elections, nevertheless prevented much larger losses in crude.

This week, the United States and its allies imposed more sanctions on Iran's oil sector.

 

Concerns over the Middle East and a reconsideration of the US rate cut cause Asian stocks to fall.

 Stronger-than-expected U.S. retail sales for March further supported predictions that the Federal Reserve is unlikely to be in a rush to decrease interest rates this year, and as a result, Asian markets fell and the dollar rose to more than five-month highs on Tuesday.

China's economy expanded 5.3% year over year in the first quarter of this year, handily exceeding analysts' predictions. Meanwhile, data showed that geopolitical tensions in the Middle East kept risk sentiment in check, driving up the price of gold and oil.

Although China's GDP report was encouraging for policymakers, a number of other March indicators—such as retail sales, industrial output, and real estate investment—showed that demand is still weak, which negatively impacted investor mood.

Market strategist at IG in Singapore, Yeap Jun Rong, stated that given the persistence of weak areas, markets may still be hesitant. "This may inject some uncertainty as to whether the growth momentum can be followed through, as recovery is still very much uneven."

China's blue-chip index sank 1%, reflecting the declines in global markets, and Hong Kong's Hang Seng Index fell 2%.

The broadest MSCI index of Asia-Pacific equities outside of Japan sank more than 2% to a two-month low of 518.03, as stock markets throughout Asia saw severe declines.

With Eurostoxx 50 futures down 1.30%, German DAX futures down 1.15%, and FTSE futures down 1.28%, the gloomy mood is expected to persist throughout Europe.

Monday's U.S. stock market saw a significant decline as investors were alarmed by a rise in Treasury yields and growing tensions between Iran and Israel. S&P 500 e-mini futures dropped by 0.14%. [.N]


The Israeli people were waiting to hear from Prime Minister Benjamin Netanyahu about his plans in response to Iran's first direct strike on their nation. According to a government source, Netanyahu called a meeting of his war cabinet on Monday for the second time in less than twenty-four hours to discuss how to react to Iran's missile and drone attack over the weekend.

According to Chris Weston, head of research at Pepperstone, "the sound of derisking, deleveraging, hedging, and broad managing of risk exposures has come alive in the markets."

"There is certainly not much in the news flow to inspire risk-taking and there is a growing list of factors to refrain from buying and to manage exposures."

According to the Census Bureau of the Commerce Department, retail sales in the United States increased by 0.7% last month. This was in contrast to the 0.3% increase predicted by analysts surveyed by Reuters. Retail sales are primarily made up of items and are not adjusted for inflation.

The better-than-expected data follows a report released last week that highlighted how stickier inflation is than what markets had anticipated, which forced a sharp retraction of rate cuts this year.

From more than 160 basis points of planned easing at the beginning of the year, traders now predict 45 basis points of cuts this year. According to CME FedWatch Tool, markets are now pricing rate decreases to begin in September rather than June.

Mary Daly, the president of the San Francisco Federal Reserve Bank, stated on Monday that there is "no urgency" to lower interest rates in the United States given the strength of the labour market and economy and the fact that inflation is still higher than the Fed's target of 2%.

The yield on 10-year Treasury notes increased to a five-month high of 4.663% on Monday, and it was at 4.612% during Asian trading hours. [US/]

The higher yields supported the dollar and maintained the yen close to its 34-year lows.

The dollar index, which compares the value of the US dollar against six competitors, was last at 106.29 after reaching a five and a half month high of 106.39 earlier in the day. The yen dropped to 154.42, raising new concerns about government meddling and remarks. Emerging market currencies also plummeted.
The dollar/yen exchange rate is supported by raised oil prices and predictions of higher-for-longer U.S. interest rates, according to Carol Kong, a currency strategist at Commonwealth Bank of Australia (OTC:CMWAY).


"Should the Ministry of Finance choose to enter the foreign exchange markets and purchase JPY, the dollar/yen is still vulnerable to a significant decline. The longer the JPY declines, the greater the chance that the Bank of Japan may raise interest rates sooner than expected in our views

Due to growing Middle East tensions, U.S. crude increased 0.64% to $85.96 a barrel while Brent saw a 0.61% daily increase to $90.65. [O/R]


An ounce of spot gold increased by 0.2% to $2,387.05. [GOL/]

                                                     Stock Market News

Dated:-30-09-2023

As a result, the Federal Reserve may have less room to raise interest rates again this year, as the headline reading of the Fed's preferred inflation gauge increased by less than expected on a monthly basis in August, while the underlying metric unexpectedly slowed compared to July.

Inflation as measured by the price index for personal consumption expenditures (PCE) rose to 0.4% from 0.2% in July on a monthly basis, according to statistics released by the Bureau of Economic Analysis of the U.S. Department of Commerce. This was somewhat lower than the rise of 0.5% that was expected by experts. It rose to 3.5% from an earlier, more optimistic estimate of 3.4% year over year.

Forecasts predicted that the rate of change would stay steady at 0.2%, but the pace of the so-called "core" index, which excludes goods like food and energy, fell to 0.1% month-over-month. Annually, it slowed to 3.9% from 4.3% after an upward revision, which was in line with projections.

The Federal Reserve Board left interest rates unchanged last week within a range of 5.25% to 5.50%, but signaled that more rate rises may be necessary at their November or December meetings to help calm inflation. Furthermore, they signaled that policy could need to remain at these high levels for a longer length of time than previously expected, which has impacted on equities and pushed bond rates rising this week.

U.S. stock index futures on Friday headed into the last day of September trading were supported by the softer-than-expected PCE announcement, which bolstered chances that the Fed may finally choose to stop any tightening for now.

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After better-than-expected monthly inflation figures, U.S. markets are on the rise.

                                                Stock Market News

Date:-29-09-2023

The last trading day of the month and quarter saw U.S. stocks rise as investors were encouraged by higher-than-anticipated monthly inflation figures.

The Dow Jones Industrial Average was up 18 points, or 0.1%, at 11:12 ET (15:11 GMT), while the S&P 500 was up 0.4% and the Nasdaq was up 0.9%.

Wall Street's major indices all closed higher on Thursday, with the tech-heavy Nasdaq Composite posting a 0.8% gain. The reversal in Treasury yields from 16-year highs lent assistance to the stock market.

The Nasdaq and the benchmark S&P 500 are set to have their worst months of the year on the eve of the last trading day of the month, while the Dow Jones Industrial Average of 30 stocks is set to fall by 3%.

Recent headlines have focused on the Federal Reserve's planned interest rate hikes, rising oil costs, and the looming shutdown of the U.S. government over funding.

In a major way, PCE

The Federal Reserve's favored inflation barometer, the personal consumption expenditures price index, showed a monthly increase in August that was higher than expected. The headline number was 3.5% on an annualized basis and 0.4% from the previous month. The annual rate of change in core PCE (PCE minus the cost of food and energy) was 3.9%, and the monthly rate was 0.1%. Both monthly increases were a tad below projections.

The headline PCE index for August was anticipated by economists to rise modestly, indicating sustained upward pressure on prices in the world's largest economy.

When deciding whether or not to raise interest rates again this year, Federal Reserve officials are likely to give this indicator a lot of weight.

The Federal Reserve Board of Governors left interest rates unchanged last week within the range of 5.25% to 5.50%, but signaled that additional tightening may be necessary at its upcoming November or December meetings to help lower inflation. 

Profit for Nike exceeds projections.

Nike Inc (NYSE:NKE) stock rose 6.1% after the sports clothing maker posted fiscal first-quarter results that far beyond expectations, despite a revenue miss caused by weakness in North America and an economic downturn in its key China market. 

Revenue for the quarter was $12.94 billion, yielding earnings per share of 94 cents. Investing.com questioned industry experts, and they predicted an EPS of 75 cents on revenue of $13.02 billion.

Nike, headquartered in Oregon, maintained its guidance for the fiscal year 2024, earning praise from Bernstein analysts for a "nice beat."

With supplies running low, oil is expected to rise this week.

Oil prices rose in volatile trading on Friday, continuing this week's trend of a 2% climb due to supply constraints in the United States and expectations of increased demand in China due to the country's Golden Week holiday.

Thanks in part to measures by Saudi Arabia and Russia to extend output curbs until the end of the year, prices have soared by 30% in the most recent quarter, reaching their highest levels in 2023. Recent strength has also come from the United States, where inventories at a key delivery point for U.S. oil futures are at their lowest level since July 2022).

Demand in the world's largest importer of petroleum is projected to rise as a result of heavy travel during the week-long Golden Week vacation in China.

Reports indicate that Saudi Arabia, the group's de facto leader, may offer a potential drop in voluntary production cuts at next week's ministerial panel of the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+.

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It has been claimed that Marathon mined a bad Bitcoin block.

                                             Crypto Currency News

Date:- 27-09-2023

- Crypto.News The publicly traded crypto mining company Marathon Digital Holdings (MARA) allegedly mined an incorrect block on the Bitcoin network, as reported by developers, miners, and academics.

Invalid block height 809478, with anonymous Bitcoin developer "0xB10C" reporting on ooX that MaraPool, Marathon's mining pool, has a "transaction ordering issue."

According to Jameson Lopp, Casa's CTO, evidence from all nine of the company's nodes indicates that the block in question contained a transaction that improperly spent an output before it was formed, rendering the entire block null and void.

The faulty block was quickly rejected by other Bitcoin node operators.

BitMEX Research claims that the problem occurred because a spending output transaction in the block was processed before it should have been, in violation of consensus rules.

Nodes adhering to the Bitcoin protocol will not add to a block that a miner has generated since it is invalid. Since faulty blocks result in wasted resources and reward loss, miners are incentivized to generate legitimate blocks in accordance with consensus rules.

With over 37,000 active miners and a hash rate of 3.2 EH/s, Marathon Digital runs a sizable mining operation. This instance, however, shows that even the largest mining pools are vulnerable to consensus rule violations that squander mining resources.

This seems like a modest setback that Bitcoin's decentralized proof-of-work consensus mechanism can easily recover from.

The peer-to-peer network will reject the work of even the largest miners if the blocks they create do not adhere to the rules established by the network.

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As Treasury rates decrease, the stock market in the United States is on the upswing.

                                            Stock Market News 

Date:-27-09-2023

Treasury yields dropped slightly, as U.S. stocks recovered from the weakness of the previous day.

The S&P 500 was up 0.3% and the NASDAQ Composite was up 0.5% at 9:55 ET (13:55 GMT), while the Dow Jones Industrial Average was up 21 points, or less than 0.1%.

The major Wall Street indices finished Tuesday's trading day substantially lower. The 30-stock Dow Jones Industrial Average, in particular, had its worst day since March, plunging about 400 points, or 1.1%. The tech-heavy Nasdaq Composite lost 1.6%, while the broad-based S&P 500 fell 1.5%.  

According to recent data, consumer confidence dropped to a four-month low in September as a result of high prices and recession worries. This was especially true after the Federal Reserve indicated last week that another rate hike was likely.

Treasury yields began to decline. The 10-year Treasury dipped to 4.521% on Tuesday after hitting a peak not seen since 2007.

August orders for durable goods increased by 0.2%. In contrast to the 5.2% fall the month before, they were predicted to have decreased by 0.5% this month.

Government shutdown is getting closer.

Investors have also been closely monitoring Washington, as Congress needs to reach a consensus on at least a short-term funding extension by late Saturday in order to keep the government operating.

A package that would provide the government with short-term funding has been approved by the Senate, but it is expected to encounter strong opposition in the Republican-controlled House of Representatives.

The Senate's bill would provide billions of dollars in domestic disaster relief as well as funding for the government through November 17th.

Simultaneously, the House moved forward with its own agenda, which included a number of spending proposals supported by conservatives and unlikely to find much traction in the Senate, which is controlled by Democrats.  

Earlier this week, Moody's issued a warning, stating that a federal government shutdown would negatively impact the nation's credit and would lead to the reduction of the United States' remaining triple "A" rating.

Following quarterly results, Costco declines

In terms of business news, Micron Technology (NASDAQ:MU), Paychex (NASDAQ:PAYX), investment bank Jefferies Financial Group (NYSE:JEF), and semiconductor manufacturer are scheduled to release their earnings.

The focus will also be on Costco (NASDAQ:COST), as the membership club's shares increased 1.4% following the release of better-than-expected quarterly profit and revenue.

Raw recovers from a setback last week. 

Following the release of the most recent U.S. inventory data leading into winter, oil prices increased on Wednesday as investors' attention was drawn to supply constraints.

Contrary to predictions for a slight decline, U.S. crude oil stockpiles increased by roughly 1.6 million barrels last week, according to industry statistics from the American Petroleum Institute released on Tuesday.

Nonetheless, concerns about low levels of crude stockpiles at a significant storage hub in Oklahoma persisted, adding to anxieties about a limited supply of crude due to prolonged output restrictions by Russia and Saudi Arabia.

Later on Wednesday, the Energy Information Administration is expected to release the official inventory numbers.

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