From Investing.com: 2024-10-30 06:01:00

Gold futures hit another record high, reaching $2,789.86/oz despite rising bond yields. Central bank buying and safe-haven demand support the surge, up over 30% this year. China’s alumina prices have soared over 50% due to supply disruptions, with Rio Tinto suspending operations in Guinea. Investors increase bullish positions for aluminum and copper, while reducing bets for nickel.

API’s report on US oil stocks shows unexpected draws, bolstering NYMEX WTI and ICE Brent prices. Chinese refiners plan to cut oil product exports in November due to low margins. ISMA requests permission from the Indian government to export 2mt of sugar to regulate surplus supply. EU soft wheat exports decrease 33% compared to last year, while imports rise by 8%.

Expect more volatility in the gold market as markets await the US election. Alumina prices surge due to supply disruptions in China. Rio Tinto suspends operations in Guinea following a fatal accident. Investors increase bullish positions for aluminum and copper, while decreasing bets for nickel. API’s report shows unexpected draws for US oil stocks, supporting prices. Chinese refiners plan to cut oil product exports in November due to low margins. ISMA requests permission from the Indian government to export 2mt of sugar to regulate surplus supply. EU soft wheat exports decrease 33% compared to last year, while imports rise by 8%.



Read more at Investing.com: Gold: Where Next After Yet Another All-Time High?