Monday’s Market Update | 14-Oct-2024

The Australian Dollar (AUD) fell on Monday after two days of gains against the US Dollar (USD), impacted by weaker-than-expected inflation data from China, one of Australia’s major trading partners.

Silver prices continued to rise for the third consecutive day, trading around $31.30 per ounce, this surge was driven by safe-haven demand amid rising geopolitical tensions.

Bitcoin also saw gains on Monday, extending its weekend recovery after Mt. Gox postponed returning assets to creditors, temporarily easing fears of a major sell-off. However, Bitcoin and other cryptocurrencies remained relatively steady, as concerns about U.S. regulatory developments persisted from the previous week.