Gold hits record $4,000 while Bitcoin holds firm

Gold stormed into history on Monday after making yet another all-time high, trading dangerously close to $4,000 per ounce as traders scrambled for safety during the ongoing ￰0￱ shutdown and growing bets on more Federal Reserve rate ￰1￱ gold surged by 1.2% to $3,992, after touching $3,944 earlier in the day, and ￰2￱ futures for December also jumped 1.2% to $3,965. Gold’s rally has been relentless this year, with prices up nearly 50%, thanks to aggressive purchases by global central banks, surging inflows into gold-backed ETFs, a weaker dollar, and retail investors stacking bullion to protect ￰3￱ markets surge on the back of Japan while yen plunges In Asia, markets added their own twist to the day’s chaos.

Japan’s Nikkei 225 index ripped higher by more than 4% after the Liberal Democratic Party chose Sanae Takaichi as its new leader on Saturday, setting her up to become the country’s first female prime minister, as Cryptopolitan extensively ￰4￱ Nikkei closed up 4.75% at 47,944.76, carried by real estate, tech, and consumer ￰5￱ a note, Crédit Agricole CIB said Takaichi would likely push the Bank of Japan to stick with easy policy but hinted she could support a 25-basis-point rate hike by January 2026. “A Takaichi administration, recognizing that the current economy is still weak, is expected to completely shift policy direction to a new approach (complete overhaul) that seeks to expand investment and demand through public-private partnerships,” the bank ￰6￱ Topix index followed, rising 3.1% to 3,226.06, setting its own record, though the mood was dented by the yen, which weakened more than 1.81% to the critical 150 per dollar level it hadn’t been breached by since August, according to data from ￰7￱ remembered October 2022, when the yen slid beyond 151 and forced the Ministry of Finance to ￰8￱ are now watching for any repeat action from ￰9￱ in commodities, copper rose 0.7% to $10,785.50 a ton by mid-morning in ￰10￱ ore slipped 0.3% to $103.60 a ton, with thin volumes as China headed into a ￰11￱ steadies as stocks split Bitcoin joined the story, notching a new high on Sunday for the first time since August, with an outstanding win to $125,689.

At press time, Bitcoin is holding steady at little over $124,000, and analysts are split on where it goes ￰12￱ Lucas of BTC Markets said traders see $135,000 as the next barrier, with $150,000 in sight if momentum ￰13￱ with leverage building, any reversal could trigger volatility, as options activity is loaded with bullish bets, with more than 60% of positions in ￰14￱ warned that such heavy optimism could lead to cascading liquidations if sentiment ￰15￱ from CoinGecko shows October has been Bitcoin’s best month, averaging gains of 22.5% over the past ￰16￱ have even branded it “Uptober.” ￰17￱ futures offered little ￰18￱ Jones Industrial Average futures edged up 37 points, or 0.1%.

S&P 500 and Nasdaq-100 futures were also up 0.1%. The S&P 500 and Nasdaq Composite just wrapped up their fourth gain in five weeks, adding 1.1% and 1.3%. The Dow climbed 1.1% last week, its third rise in four ￰19￱ Street remains bullish, with Tom Lee, head of research at Fundstrat, predicting that:- “Nevertheless, we think this is a ‘sidebar’ issue and probabilities heavily favor stocks remaining strong from October to December this ￰20￱ fact, we see S&P 500 reaching at least 7,000 by year-end — and maybe higher.” In Europe, momentum broke ￰21￱ Stoxx 600 fell 0.4% at 9:05 ￰22￱ time after five straight sessions of gains, which included an all-time high last Thursday.

France’s CAC 40 dropped 2% after Sebastien Lecornu resigned only weeks into his role, throwing Paris into more political ￰23￱ banks led losses, with Societe Generale, BNP Paribas, and Credit Agricole all plunging more than 5%. Claim your free seat in an exclusive crypto trading community - limited to 1,000 members.