Volatility in stock indices, gold due to profit-taking and concerns over AI investment

From Investing.com: 2024-11-01 07:03:00

Month-end saw stock indices and gold in the red due to profit-taking, reallocations, and AI investment concerns, despite positive earnings reports. Gold recovered after a $50 drop, with Israel-US ceasefire talks and upcoming events adding to market uncertainty. Gold has rallied 33% in 2024, the strongest since 2007. The focus shifts to the US labour market data today, with a forecasted 106k increase in nonfarm payrolls. The dollar did not benefit from the market reaction, trading below 1.0900 against the euro, with hawkish comments from the BoJ impacting the dollar/yen pair. China’s positive data did not help the Aussie against the dollar.



Read more at Investing.com: Volatility Returns With a Vengeance Ahead of Key US Events