November 6, 2026 - Gold Falls 1.14% to $4,042.59, Silver Drops 0.59% to $51.48 and Brent Rises 1.73% to $99.99

Global Markets

(A) Precious Metals

Gold: $4,042.59/oz (-1.14%)

Gold fell 1.14% to $4,042.59/oz as rising oil prices fueled inflation concerns and reinforced expectations of higher U.S. interest rates. Technology-sector losses triggered liquidation pressure, while Goldman Sachs lowered its end-2026 gold forecast to $4,150 from $4,650. Markets priced a 68% probability of a December Fed rate increase.

Silver: $51.48/oz (-0.59%)

Silver declined 0.59% to $51.48/oz as inflation concerns, restrictive Fed expectations and weaker industrial demand sentiment pressured prices. The Nasdaq's 5.52% selloff intensified risk aversion, while investors awaited U.S. employment data for further policy signals.

(B) Energy

Brent Crude: $99.99/bbl (+1.73%)

Brent gained 1.73% to $99.99/bbl as renewed tanker attacks in the Strait of Hormuz raised Middle East supply concerns. Despite the rebound, oil remained under weekly pressure amid expectations of reduced U.S.-Iran tensions. Eurasia Group estimated a 60% probability of renewed U.S. strikes, keeping geopolitical risks elevated.

(C) FX

DXY: 101.74 (+0.30%)

The U.S. Dollar Index rose 0.30% to 101.74 as safe-haven demand following the AI-stock selloff supported the dollar. Falling Treasury yields and reduced Fed rate-hike expectations limited gains.

USD/JPY: 157.80

USD/JPY recovered to 157.80 after touching 157.27, as safe-haven yen demand and declining U.S. Treasury yields pressured the pair earlier. Analyst Moh Siong Sim highlighted the yen's defensive appeal.

EUR/USD: 1.1198 (-0.20%)

EUR/USD declined 0.20% to 1.1198 as dollar strength and global equity-market weakness pressured the euro, although it remained on track for a 0.40% weekly gain.

GBP/USD: 1.3433 (-0.10%)

GBP/USD fell 0.10% to 1.3433 as dollar strength and risk aversion outweighed support from the Bank of England's 25-basis-point rate increase to 4.00%.

AUD/USD: 0.6930 (-1.08%)

AUD/USD declined 1.08% to 0.6930 in Thursday's session as technology-stock losses, weaker Asian equities and reduced risk appetite pressured the Australian dollar.

High-Impact Economic Events

Note: These events are for informational purposes only. Please conduct your own research before making any market decisions.

Volatility

The VIX surged to 28.18 from 16.61, reaching an intraday high of 28.36, as the sharp AI-led equity selloff, increased hedging and uncertainty ahead of U.S. employment data heightened market volatility.

What Markets Are Watching

1. U.S. Nonfarm Payrolls, Canadian Employment & Federal Reserve Policy

Markets await U.S. payrolls of 65,000, unemployment at 4.2%, and wage growth of 0.3%. Canadian employment is forecast to rise 14,600, with unemployment at 6.5%. December Fed rate-hike expectations eased to 68-70% from above 80%, making employment data crucial for yields, currencies and precious metals.

2. AI-Sector Selloff, Global Equities & Technology Regulation

U.S. equities plunged amid AI regulation and valuation concerns, with the Nasdaq falling 5.52%, S&P 500 dropping 4.36% and Dow declining 3.44%. Nvidia lost 9.26% and AMD fell 17.26%, while South Korea's KOSPI dropped approximately 5%, reflecting widespread technology-sector weakness.

3. Middle East Supply Risks, Bank of England Policy & China's Yuan

Brent rebounded to $99.58/bbl amid renewed Strait of Hormuz tanker attacks, while the Bank of England raised rates to 4.00%. China's yuan strengthened 5% against the dollar and 9% against the euro in 2026, prompting authorities to increase foreign-currency reserve requirements from 4% to 6% to manage appreciation and protect export competitiveness.