Gold Surges Past $2,700 To Record High; Asia And Europe Markets In Green - Global Markets Today While US Slept
Portfolio Pulse from Akanksha Bakshi
Gold reached a record high of over $2,700 amid U.S. election uncertainties, while the Dow hit a record high due to strong retail sales and Taiwan Semiconductor's positive earnings forecast. U.S. markets closed mixed, with the S&P 500 and Nasdaq nearly flat. Asian and European markets mostly rose, supported by positive economic data.
October 18, 2024 | 10:32 am
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POSITIVE IMPACT
Gold surged to a record high, surpassing $2,700, driven by geopolitical tensions and U.S. election uncertainties.
The surge in gold prices to a record high is driven by increased demand for safe-haven assets due to geopolitical tensions and election uncertainties, which is likely to positively impact GLD's price in the short term.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Taiwan Semiconductor's positive earnings forecast contributed to the Dow's record high, boosting chip stocks.
Taiwan Semiconductor's positive earnings forecast is a significant driver for the Dow's record high, indicating strong performance in the semiconductor sector, which is likely to positively impact TSM's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80