XM tidak menyediakan perkhidmatan kepada penduduk Amerika Syarikat.

Gold hits record high, stocks edge lower amid US election worries



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>GLOBAL MARKETS-Gold hits record high, stocks edge lower amid US election worries</title></head><body>

Wall Street stocks edge down

Gold hits fresh all-time high

Dollar index gains

US yields hit three-month highs

Updates with US market open, adds analyst comments in paragraphs 4 and 11

By Chibuike Oguh and Amanda Cooper

NEW YORK/LONDON, Oct 23 (Reuters) -Gold prices hit record highs on Wednesday, defying the dollar's rise, which kept pressure on the yen and the euro, while global stocks edged lower amid investors' reluctance to place major bets ahead of the U.S. election.

Investors are also rethinking how much the Federal Reserve might need to cut interest rates after the most recent U.S. economic data pointed to an economy that continues to expand and create jobs.

Markets are pricing a 92% chance of a 25-basis-point cut at the Fed's next meeting in November and another 25-bps cut by year end. A month ago, traders were pricing in as much as a full percentage point in cuts by January. The yield on benchmark U.S. 10-year notes US10YT=RR hit three-month highs and were last up 3.8 basis points to 4.244%.

"The yields rising are implying a pro-growth administration is potentially coming into power and there's some fear about deficit-spending," said Thomas Hayes, chairman at Great Hill Capital in New York.

On Wall Street, all three main indexes were trading lower, driven by losses in consumer discretionary, healthcare and technology stocks.

The Dow Jones Industrial Average .DJI fell 0.52% to 42,700.16, the S&P 500 .SPX fell 0.36% to 5,830.00 and the Nasdaq Composite .IXIC fell 0.56% to 18,469.35.

The MSCI All-World index .MIWD00000PUS was 0.41% lower on the day, echoing weakness in Europe, where the STOXX 600 .STOXX was down 0.06%.

"This week's stock-market price action suggests that the 50th record high for the S&P 500 could be a tough ask with the U.S. election so close," XTB research director Kathleen Brooks said.

The chances of Donald Trump beating Kamala Harris have recently edged higher on betting websites, though opinion polls show the race to the White House remains too tight to call.

The prospect of another Trump presidency has been in focus for investors, as his policies include tariffs and restrictions on undocumented immigration, among other measures, that are expected to push up inflation.

"There is an illusion that if Trump wins, you want to buy energy. Energy actually underperformed during the period from 2016 to 2020. What did outperform, and people should be buying on that basis, would be industrials like Boeing BA.N, smallcaps, and, believe it or not, emerging markets and China equities," Hayes added.

Gold XAU= has shrugged off the strength in the U.S. dollar and rallied to a new record high of $2,757.99 an ounce. Demand for safe-haven gold is partly driven by U.S.-election worries and geopolitical tensions in the Middle East and Europe.

Bullion, which has risen 33% this year, was last down 0.8% to $2,726.51 an ounce. U.S. gold futures GCc1 fell 0.1% to $2,741.50 an ounce.

The dollar index =USD, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.37% to 104.48.

Against the Japanese yen JPY=, the dollar strengthened 1.34% to 153.08. The euro EUR=EBS fell 0.2% to $1.0775, its lowest since early August.

Goldman Sachs said in a note on Tuesday the euro could fall by as much as 10% in a scenario under which a Trump presidency ushered in hefty tariffs and tax cuts.

Brent LCOc1 crude futures fell 1.14% to $75.17 a barrel. West Texas Intermediate crude CLc1 dropped 1.13% to $70.93.


World FX rates YTD http://tmsnrt.rs/2egbfVh


Reporting by Chibuike Oguh in New York and Amanda Cooper; Editing by Rod Nickel

To read Reuters Markets and Finance news, click on https://www.reuters.com/finance/markets For the state of play of Asian stock markets please click on: 0#.INDEXA

</body></html>

Penafian: Entiti XM Group menyediakan perkhidmatan pelaksanaan sahaja dan akses ke Kemudahan Dagangan Atas Talian, yang membolehkan sesorang melihat dan/atau menggunakan kandungan yang ada di dalam atau melalui laman web, tidak bertujuan untuk mengubah atau memperluas, juga tidak mengubah atau mengembangkannya. Akses dan penggunaan tersebut tertakluk kepada: (i) Terma dan Syarat; (ii) Amaran Risiko; dan Penafian Penuh. Oleh itu, kandungan sedemikian disediakan tidak lebih dari sekadar maklumat umum. Terutamanya, perlu diketahui bahawa kandungan Kemudahan Dagangan Atas Talian bukan permintaan, atau tawaran untuk melakukan transaksi dalam pasaran kewangan. Berdagang dalam mana-mana pasaran kewangan melibatkan tahap risiko yang besar terhadap modal anda.

Semua bahan yang diterbitkan di Kemudahan Dagangan Atas Talian kami bertujuan hanya untuk tujuan pendidikan/maklumat dan tidak mengandungi – dan tidak boleh dianggap mengandungi nasihat kewangan, cukai pelaburan atau dagangan dan cadangan, atau rekod harga dagangan kami, atau tawaran, atau permintaan untuk suatu transaksi dalam sebarang instrumen kewangan atau promosi kewangan yang tidak diminta kepada anda.

Sebarang kandungan pihak ketiga serta kandungan yang disediakan oleh XM, seperti pendapat, berita, penyelidikan, analisis, harga, maklumat lain atau pautan ke laman web pihak ketiga yang terdapat dalam laman web ini disediakan berdasarkan "seadanya" sebagai ulasan pasaran umum dan bukanlah nasihat pelaburan. Sesuai dengan apa-apa kandungan yang ditafsir sebagai penyelidikan pelaburan, anda mestilah ambil perhatian dan menerima bahawa kandungan tersebut tidak bertujuan dan tidak sediakan berdasarkan keperluan undang-undang yang direka untuk mempromosikan penyelidikan pelaburan bebas dan oleh itu, ia dianggap sebagai komunikasi pemasaran di bawah peraturan dan undang-undang yang berkaitan. SIla pastikan bahawa anda telah membaca dan memahami Notifikasi mengenai Penyelidikan Pelaburan Bukan Bebas dan Amaran Risiko mengenai maklumat di atas yang boleh diakses di sini.

Amaran Risiko: Modal anda dalam risiko. Produk yang berleveraj mungkin tidak sesuai untuk semua individu. Sila pertimbangkan Pendedahan Risiko kami.