STARTRADER Monday’s Market Update 16-10-2023

Investors have been closely tracking geopolitical developments in the Middle East, and these developments have exerted a great influence on the escalation of prices for safe-haven assets, notably pushing gold back into trading above $1915 per ounce.

Furthermore, oil prices and the energy markets encountered a notable shift, with a roughly 6% surge just this past Friday, constituting the most substantial daily percentage increase since April.

The financial markets are now eagerly anticipating the forthcoming remarks from Federal Reserve Chairman Powell scheduled for this week as they seek to gain insight into the Federal Reserve’s future strategies and its approach to interest rates in the upcoming period.