Ella 
During the Asian session on Monday, gold prices continued to rise, trading around $1,850 an ounce. Gold prices found upside support from risk aversion, which could be attributed to the Israeli-Palestinian military conflict.
The ongoing military conflict in the Middle East between Hamas and Israel is being closely watched by the market. The concern is that the conflict could intensify and expand to other parts of the region, creating geopolitical uncertainty and possible consequences for global markets.
Escalating violence could prompt investors to seek refuge in traditional safe-haven assets, with gold being an obvious example. During periods of heightened geopolitical uncertainty, demand for safe-haven assets tends to increase, and gold is often viewed as a store of value in such circumstances.
The U.S. dollar index (DXY) has rebounded after three consecutive days of losses and was trading around 106.20 at press time. The strength of the US dollar (USD) can be attributed to the impressive US non-farm payrolls data released last Friday.
September’s jobs report showed a significant gain of 336,000 jobs, beating market expectations of 170,000 jobs. August’s revised figure was 227,000. However, U.S. average hourly earnings (monthly rate) remained steady at 0.2% in September, missing expectations of 0.3%. On an annualized basis, the report showed a decline of 4.2%, missing the consensus figure of 4.3%.
U.S. Treasury yields also rebounded, driven by expectations that the Federal Reserve will keep interest rates higher for an extended period. As of now, the 10-year U.S. Treasury yield is once again at 4.80%, close to its peak since 2007.
Investors may focus on the upcoming International Monetary Fund (IMF) meeting, which will discuss strategies to stabilize international exchange rates and promote development.
