Overview
- Spot gold hovered near $3,978 per ounce on Friday after hitting an all‑time high of $4,059 earlier in the week, putting it on course for an eighth straight weekly gain and roughly 52% year‑to‑date.
- Silver eased after touching about $51.235 per ounce on Thursday, its highest level in more than four decades, leaving it up around 70% so far this year.
- Federal Reserve minutes showed officials see labor‑market risks sufficient to justify rate cuts, with CME FedWatch indicating roughly 95% odds of a 25 bp cut in October and about 82–83% odds of another in December.
- Reports that Israel and Hamas agreed to a first phase of President Donald Trump’s Gaza plan, including a ceasefire and hostage exchange, lifted Israeli assets as the Tel Aviv 35 hit a record and the shekel strengthened to a three‑year high near 3.24 per dollar.
- The yen headed for its worst weekly performance in a year on fears the Bank of Japan stays dovish, the euro traded near a two‑month low, and the U.S. dollar index climbed toward a two‑month high.