October 30, 2026 - Gold Falls 0.77% to $3,990.55, Silver Drops 2.16% to $51.04 and Brent Rises 1.24% to $112.17

Global Markets

(A) Precious Metals

Gold: $3,990.55/oz (-0.77%)

Gold declined 0.77% to $3,990.55/oz as stronger U.S. inflation data, elevated oil prices and Federal Reserve rate-hike expectations pressured bullion.

Markets priced approximately a 75% probability of a December rate hike, while analyst Tim Waterer highlighted the $4,000 support level as important for gold's near-term direction.

Silver: $51.04/oz (-2.16%)

Silver fell 2.16% to $51.04/oz as restrictive Fed expectations, inflation concerns and weaker industrial demand intensified selling pressure.

Analysts highlighted tight monetary conditions and slowing industrial consumption as key risks, with the $50–$53/oz range remaining in focus.

(B) Energy

Brent Crude: $112.17/bbl (+1.24%)

Brent rose 1.24% to $112.17/bbl as Middle East supply disruptions, tanker attacks and geopolitical tensions supported oil prices.

Energy analyst Saul Kavonic highlighted continued regional hostilities and uncertain diplomatic prospects as factors sustaining elevated oil prices.

(C) FX

DXY: 101.77 (-0.26%)

The U.S. Dollar Index declined approximately 0.26% to 101.77 as falling Treasury yields and technology-sector losses pressured the dollar.

Sim Moh Siong, FX Strategist at OCBC, highlighted that AI investment concerns and increased demand for U.S. government bonds contributed to weaker yields and a subdued dollar.

USD/JPY: 157.12 (-0.34%)

USD/JPY declined approximately 0.34% to 157.12 as yen strength, declining U.S. Treasury yields and Bank of Japan tightening expectations weighed on the pair.

Masahiko Loo, Chief Fixed Income Strategist, highlighted the BOJ's hawkish policy outlook, with interest rates held at 1.25% and a longer-term expectation of approximately 1.75%.

EUR/USD: 1.1197 (+0.15%)

EUR/USD gained 0.15% to 1.1197 as dollar weakness and declining U.S. Treasury yields supported the euro.

The ECB maintained its deposit rate at 2.50%, while persistent inflation concerns and expectations of further monetary tightening influenced investor positioning.

GBP/USD: 1.3400 (+0.20%)

GBP/USD rose 0.20% to 1.3400 as a weaker U.S. dollar and declining Treasury yields supported sterling.

The UK's fiscal outlook and expectations of a November Bank of England rate increase remained key influences, while reduced political uncertainty provided additional support.

AUD/USD: 0.7042 (+0.20%)

AUD/USD advanced 0.20% to 0.7042 as U.S. dollar weakness and expectations of further Australian monetary tightening supported the currency.

Khoon Goh, Head of Asia Research at ANZ, highlighted that the global tightening cycle could continue, with persistent inflation potentially requiring additional rate increases.

High-Impact Economic Events

Note: These economic events are for informational purposes only. Please conduct your own research before making any market decisions.

Volatility

The VIX rose to 17.20 from 16.91 as technology-sector losses, AI investment concerns and weaker U.S. equities increased investor caution, while Fed policy uncertainty and Middle East tensions sustained market volatility.

What Markets Are Watching

1. U.S. Inflation, Federal Reserve Policy & Precious Metals

Markets assessed stronger U.S. inflation data and expectations of a December Federal Reserve rate increase. Persistent inflation and elevated energy prices could reinforce restrictive monetary policy, influencing Treasury yields, gold, silver and the U.S. dollar.

2. Bank of Japan Decision & Global Currency Markets

The Bank of Japan maintained interest rates at 1.25% while raising its inflation outlook and signalling further tightening. Investors are monitoring Governor Kazuo Ueda's guidance, December rate-hike expectations and yen movements, while upcoming Bank of England and Reserve Bank of Australia decisions remain important for global currencies.

3. Middle East Supply Risks, Oil Prices & AI Earnings

A tanker attack in the Strait of Hormuz renewed concerns over Middle East supply disruptions, supporting Brent prices. Meanwhile, disappointing technology earnings and increased scrutiny of AI investment spending pressured U.S. equities, while geopolitical developments and corporate profitability remained important market drivers.