The U.S. Nasdaq Composite continued to set new records late last week, while platinum prices drew attention with their upward trend.

U.S. Stock Market on October 25: Thanks to major tech stocks, the Nasdaq Composite reached a record high of 18,518.61 points by the end of last week, up 0.56%. Meanwhile, the S&P 500 fell by 0.03% to 5,808.12 points, and the Dow Jones dropped 0.61% to 42,114.40 points.

U.S. Treasury Bonds on October 25: The yield on the 10-year U.S. Treasury note cooled down from its three-month peak, reaching 4.24% on October 25.

Dollar Index (DXY): The DXY index rose for the fourth consecutive week, maintaining its uptrend and closing the week at 104.32, up 0.8%, supported by the increase in U.S. Treasury yields.

Gold Market: Gold prices rose on Friday (October 25), rebounding after profit-taking amid Middle Eastern tensions and concerns over the U.S. presidential election. Spot gold increased 0.3% to $2,743.33 per ounce at the close of the session. It reached a record high of $2,758.37 per ounce on October 23, marking its third consecutive weekly gain. Gold futures rose 0.3% to $2,755.80 per ounce.

Commodity Trading Market: Last week, Brent crude oil prices rose by 4.09%, while WTI crude oil gained 3.7%, driven by the ongoing Middle Eastern conflict and the U.S. election.

By the close of trading on October 25, Brent crude rose 2.25% to $76.05 per barrel, and WTI crude climbed 2.27% to $71.78 per barrel.

Metals Market: Metals prices showed mixed trends. December 2024 silver settlement prices fell slightly by 0.5% to $33.779 per troy ounce. Platinum prices increased by 0.3% to $1,036.7 per troy ounce, and copper prices rose 0.44% to $4.3705 per pound.

Platinum gained as traders focused on the continuous upward momentum in the palladium market.

Palladium prices surged 8-9% overnight, demonstrating a strong upward move after breaking resistance. It is worth noting that the gold market is valued at around $16 trillion, silver at $1.5 trillion, and palladium at just $0.3 trillion. Even small market disruptions can have significant impacts on palladium. It is predicted that palladium will experience major price fluctuations.

The U.S. has asked G7 allies to consider sanctions on Russian palladium and titanium, according to a source familiar with the matter, as the Biden administration seeks new ways to constrain President Vladimir Putin’s war efforts.

Biden administration officials raised the possibility during a meeting of G7 finance deputies on Tuesday in Washington. Financial officials from around the world gathered in the U.S. capital for the annual meetings of the International Monetary Fund (IMF) and the World Bank, where this idea was discussed to push forward talks on further restricting the Russian economy nearly three years after Russian forces invaded Ukraine.

A stronger USD and higher U.S. Treasury yields pressured silver prices. Nevertheless, copper prices continued to find support from optimism surrounding Chinese demand, bolstered by recent stimulus measures. The People's Bank of China recently lowered its 1-year and 5-year loan prime rates by 25 basis points and hinted at further easing, including a potential reserve requirement cut before the year-end, to boost economic growth. On the supply and demand side, the shift towards cleaner energy has raised concerns about potential copper shortages, as mining companies struggle to increase production.

Source: Compilation