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Gold and indices gain momentum as U.S. market opens
Bullish momentum drives gold prices above $2,320, fueled by weakened US Treasury bond yields and escalating geopolitical tensions.
Wall Street indices begin the week with gains
Natural gas prices climb as Egypt tightens controls at the Northern Sinai border
Investor attention turns to speeches from Fed officials Barkin and Williams
Stock Market
Financial markets kicked off the new week on a positive note, with Wall Street indices seeing gains in the first trading session. with the small-cap Russell 2000 surging the most with over 0.8% gain. This uptrend followed a similarly upbeat session in Europe and Asian sessions.
Looking ahead, the economic calendar for the afternoon remains relatively quiet, with only speeches scheduled from Fed officials Barkin and Williams.
In the commodities market
Gold saw a bullish momentum, climbing above the $2,320 mark. This upward movement was propelled by retreating US Treasury bond yields, triggered by weaker-than-expected US employment data and escalating geopolitical tensions. Market sentiment leaned towards expectations of interest rate cuts in the US, further bolstering the price of gold. While form the other side, central banks demand for gold remained robust in March.
Natural gas
Prices experienced an uptick, attributed in part to Egypt strengthening controls at the Northern Sinai border. Traders also factored in increased risk premiums amidst growing diplomatic tensions in the region.
WTI crude oil
Prices advanced to $79, benefiting from various tailwinds including concerns over geopolitical risks and a softer US Dollar. With investor focus shifting towards speeches from central bankers, market dynamics are likely to continue evolving throughout the session.
