Gold hits a new all-time high but the upcoming US data could trigger a pullbackGold flirts with fresh record highs as the new week gets underwayCryptocurrencies casually crash into EU session open without any catalystHeads up: Fedspeak to flood the economic calendar in the days aheadECB's Makhlouf: Aging populations threaten Euro Area job growthECB's Escriva: Exchange rate level not a concern, inflation projections on targetSNB total sight deposits w.e. 19 September CHF 472.3 bn vs CHF 468.5 bn prior
Markets:
EUR leads, CAD lags on the dayEuropean equities lower; S&P 500 futures down 0.3%US 10-year yields down 1.4 bps to 4.125%Gold up 1.1% to $3,724.28WTI crude down 0.5% to $62.37Bitcoin down 2.2% to $112,774Major currencies are not showing all too much appetite, though the dollar is seeing a little softer at the balance against the European currencies on the day. EUR/USD and GBP/USD were both mostly flat but are now seen creeping just a little higher with the former up 0.3% to 1.1777 and the latter up 0.2% to 1.3492. All of this though comes after the drop on Friday, so it's not all too material.
Instead, the standout mover is gold as it continues to shoot up to fresh record highs. This time around, price is eclipsing the $3,700 mark on the break higher with the precious metal seen up 1% to $3,724 currently. The sky is the limit for gold in this market environment, but be wary a pullback or correction on profit-taking before we head to the hotter seasonal months in December and January.
Besides that, cryptocurrencies are not really enjoying a good start to the week amid a sizable tumble. Bitcoin is down over 2% and slipping below its 100-day moving average, now down to $112,774. Meanwhile, Ether is down nearly 6% to $4,190 with the low earlier testing the mid-August lows of around $4,062-66. There's no fresh headlines driving the move and Occam's razor dictates that it is a case of just having more sellers than buyers as the recent upside run cools a little.
This article was written by Justin Low at investinglive.com.Hence then, the article about investinglive european markets wrap no stopping the gold train for now was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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