Global Markets Shaken by Political Drama, Spark Gold Surge
Global markets reveal turmoil amidst political developments in Japan, France, and the U.S. Gold reaches unprecedented highs, driven by geopolitical and economic uncertainties, while France faces political upheaval causing market distress. Japan's currency fluctuations and political shifts further stir investor sentiments.
Global markets are experiencing turbulence as political unrest unfolds in Japan, France, and the U.S. This volatility has propelled gold prices to a record-breaking $4,000 per ounce, serving as a safe haven for investors amid economic insecurities.
Remarkably, spot gold has seen a stunning 50% surge this year, following considerable gains in previous years. Global inflows into gold ETFs have reached $64 billion year-to-date, with a historic $17.3 billion in September alone.
Political instability in France, with President Macron under pressure and facing the resignation of another prime minister, has destabilized markets further. Concurrently, Japan's fiscal policies under Sanae Takaichi have dramatically influenced the yen and bond yields.
(With inputs from agencies.)
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