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Gold hit a fresh record high of $2,288/oz amid increased safe haven demand

Gold shines again, as the price of the yellow metal recorded another record-high of $2,288/oz on Wednesday morning, driven by the increased haven demand after an escalation in the Middle East tension, coupled with the uncertainty over U.S. interest rates.

Brent oil flirts with $90 on Middle East risk and supply concerns

Both Brent and WTI crude oil prices rose as high as $89.50/b and $85/b respectively on Tuesday morning, nearing 6-month highs, driven by the escalating tension in the Middle East, the tighter oil supplies from OPEC+ and Mexico, the Russian refinery outages, and the resilient petroleum demand, especially from China, Europe, and the U.S.

Gold hit a fresh record-high of $2,141 on Fed rate cut bets

Gold shines again, as it hit a fresh record-high of $2,141/oz on Tuesday morning on growing bets that the Federal Reserve will start cutting interest rates this year (June), together with the softer dollar and bond yields, and on safe-haven demand due to the geopolitical risks

Brent oil rose over $84 as OPEC+ extended voluntary supply cuts

Brent and WTI crude oil prices hit a fresh yearly high of nearly $84.70/b and $80.50/b respectively on Monday morning after the OPEC+ group extended its voluntary oil supply cutbacks to the middle of the year in a bid to avert a global surplus and support higher crude oil prices.

Bitcoin jumped to $63,000 for the first time since late 2021

Bitcoin climbed above $63,000 on Wednesday for the first time since late November 2021 as the spot bitcoin ETF products continue to draw huge inflows from investors around the world, while an upcoming reduction in Bitcoin’s supply growth, known as the “halving”, is also adding to the optimistic sentiment

Market Outlook for 2024: Monetary and geopolitical challenges

Macroeconomic risks, central bank policies, volatility, and geopolitical challenges will be at the centre of the thinking of the investment community and the political scene in 2024.