WTI crude jumps $3.90 to $82.08 and gold rises $46 to $4388 amid geopolitical tensions and a weaker yen.
Gold and oil extended gains on Monday, with WTI crude climbing $3.90 to $82.08 and gold rising $46 to $4388. The moves came as the yen weakened sharply, with USD/JPY surging over 150 pips to breach 159.00 in US trading, challenging recent intervention efforts by Japanese and US authorities.
The S&P 500 edged down 0.1%, while US 10-year yields rose 4.3 bps to 4.70%. The yen’s decline followed a rebound from intervention-driven gains, with markets questioning the sustainability of official efforts to stabilize the currency. Meanwhile, geopolitical risks in the Middle East intensified as tensions between the US and Iran escalated, fueling oil’s rally.
Intel announced a $15 billion secondary offering, diluting shareholders. The market reaction reflected cautious sentiment, with investors weighing Fed policy signals and rising input costs from higher commodity prices.