October 13, 2026 - Gold Rises 0.52% to $4,193.47, Silver Gains 0.52% to $60.63 and Brent Falls 1.05% to $105.53

Global Markets

(A) Precious Metals

Gold: $4,193.47/oz (+0.52%)

Gold rose 0.52%, supported by easing oil prices and reduced inflation concerns. However, Fed tightening expectations limited gains, with markets awaiting U.S. CPI data.

Silver: $60.63/oz (+0.52%)

Silver gained 0.52%, supported by improved precious-metal demand and easing inflation concerns. However, elevated Treasury yields and Fed rate-hike expectations capped gains.

(B) Energy

Brent Crude: $105.53/bbl (-1.05%)

Brent fell 1.05%, pressured by prospects of increased Russian fuel supplies and a proposed Russia-Ukraine energy ceasefire. However, Middle East tensions and Strait of Hormuz disruptions limited losses.

(C) FX

DXY: 102.39 (-0.20%)

The dollar fell 0.20% to 102.39, pressured by easing oil prices and lower Treasury yields, with the U.S. 10-year yield declining 5 basis points to 5.192%. However, Fed tightening expectations and geopolitical tensions limited losses.

USD/JPY: 158.22 (-0.20%)

USD/JPY declined 0.20% to 158.22, driven by dollar weakness and Japanese wholesale inflation of 6.8%, which reinforced expectations of further Bank of Japan tightening.

EUR/USD: 1.1177 (+0.20%)

EUR/USD gained 0.20% to 1.1177, supported by dollar weakness and easing energy prices. However, French fiscal uncertainty and elevated European borrowing costs capped gains.

GBP/USD: 1.3219 (+0.10%)

GBP/USD edged up 0.10% to 1.3219, supported by a softer dollar and stabilising Treasury yields. However, Bank of England policy uncertainty and persistent inflation concerns limited gains.

Volatility

The VIX stood at 15.21, indicating relatively subdued volatility, while U.S. inflation data, Fed tightening expectations and Middle East tensions kept investors cautious.

What Markets Are Watching

1. U.S. Inflation Data & Fed Rate Expectations

Markets priced a 19% probability of an October Fed rate hike and 85% by December, with Wednesday's CPI and Thursday's PPI reports expected to shape policy expectations. The U.S. 10-year Treasury yield eased to 5.192%, while Cleveland Fed President Beth Hammack's call for tighter policy reinforced inflation concerns.

2. Russia-Ukraine Energy Ceasefire & Middle East Supply Risks

Brent declined toward $105/bbl as prospects of additional Russian diesel supplies eased immediate supply concerns. However, Houthi attacks on Saudi Arabia, tanker incidents near the Strait of Hormuz and doubts over the proposed Russia-Ukraine energy ceasefire maintained geopolitical risks. OPEC also lowered its 2026 oil demand growth forecast to 400,000 barrels per day.

3. U.S. Bank Earnings, AI Stocks & Global Bond Yields

Investors awaited JPMorgan, Goldman Sachs, Citigroup and Wells Fargo earnings, focusing on lending conditions, trading revenue and elevated borrowing costs. Meanwhile, Asian technology shares declined sharply, with South Korea's KOSPI falling more than 6%, as concerns over Chinese semiconductor competition pressured AI-related stocks.