Gold prices surge past $4,500, with multiple risk factors simultaneously triggering market turbulence

Financial markets are turbulent today, with gold, crude oil, and currency markets all moving simultaneously, as investors face intense data releases and policy shifts.

Gold and Precious Metals Lead, Approaching Historical Ceiling

Gold prices continue to hit new highs, reaching as high as $4497 per ounce, just one step away from the $4500 mark. Silver is also rallying, climbing to $70 per ounce, both setting historical records.

Market confidence in gold’s outlook remains strong, with Yardeni Research raising its end-of-2026 target price to $6000 per ounce, implying over 25% upside potential. In an environment shrouded in uncertainty, safe-haven funds continue to flow into precious metals.

US GDP Determines Next Steps, US Dollar Under Pressure

Tonight at 21:30, the market will release the US Q3 GDP data. Consensus expects an annualized growth rate of 3.3%, a slowdown from Q2’s 3.8%. This data will directly influence the dollar’s direction—if growth exceeds expectations, the dollar will be supported; if not, it may face further depreciation.

As of now, the US Dollar Index has fallen 0.30% to 97.94, indicating the market has already priced in potential softening.

Yen Volatility Intensifies, Government Intervention at Critical Point

Japanese financial authorities have issued a swift warning. Finance Minister Shunichi Suzuki stated they have discretionary power to take decisive action, while Deputy Finance Minister Masamura noted that unilateral currency fluctuations have become normal, and the government will take measures against excessive volatility.

USD/JPY has dropped over 0.70%, to 155.90, declining for two consecutive trading days. These signals suggest the Japanese government is about to step in to stabilize the currency market, and the market should remain alert to sudden policy shifts.

US Stock Futures Slightly Up, Tech Stocks Diverge Significantly

US stock index futures opened slightly higher. Dow futures rose 0.03%, S&P 500 futures up 0.03%, Nasdaq 100 futures up 0.06%.

Popular stocks show mixed performance: Nvidia rose 0.05%, while Tesla led with a 0.29% increase, having surged to $498 yesterday to set a new record high. The divergence among tech giants reminds investors that not all high-growth stocks can move in sync.

Geopolitical Tensions Escalate, Oil Supply Risks Emerge

Venezuelan oil tankers intercepted by the US, Ukraine attacking Russian energy facilities, Israel contemplating a new strike on Iran—these events have sparked deep concerns over potential disruptions to global oil supplies.

Oil prices responded with gains, rising for two days before entering a volatile phase. WTI crude stands at $58.05 per barrel, Brent crude at $62.10 per barrel. Uncertainty in energy supply will continue to support oil prices, though they may quickly retreat if geopolitical risks ease.

Summary: Gold prices are approaching the key psychological level of $4500, while US GDP data, yen policy, and geopolitical risks form a triangular situation, making short-term market volatility inevitable. Investors should pay attention to tonight’s data release and prepare for sharp fluctuations in exchange rates and energy markets.