Weekly Commodities Fundamental Report – 8 October 2023

Gold: Gold prices have continued their decline for the ninth consecutive session on Friday, as concerns over the Federal Reserve’s commitment to higher interest rates is driving the dollar to higher levels. Since reaching above $2,000 per ounce in May, gold has retreated by nearly 12%, largely influenced by the Fed’s hawkish stance, which has pushed bond yields to their highest levels in 16 years.