Gold Surges Over $30 per Ounce Amid Geopolitical Tensions: Gold prices significantly recovered during Monday’s trading,
marking the first rise since November 7. They had suffered the worst weekly losses since 2021.

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A decline in Youth Unemployment

Gold Surges Over

A decline in Youth Unemployment Rate in China Reflects Improvement in the Job Market

The youth unemployment rate in China declined in October,
indicating a relative improvement in the labor market of the world’s second-largest economy.
Beijing introduced a series of supportive measures to stimulate the slowing economic growth.
According to data released by the National Bureau of Statistics on Monday,
the unemployment rate for the 16-24 age group,
excluding university students, dropped to 17.1% in October compared to 17.6% in September.

On the other hand, the unemployment rate for the 25-29 age group saw a slight increase,
rising to 6.8% from 6.7% during the same period.
These figures reflect the ongoing challenges in the labor market despite
government efforts to stimulate the economy following a noticeable slowdown.

Gold Surges Over $30 per Ounce Amid Geopolitical Tensions

Gold prices notably recovered during Monday’s trading,
marking the first rise since November 7, after experiencing the worst weekly losses since 2021.
Spot gold contracts increased by over $30 per ounce,
reaching a peak of $2,597.26 early in the session before settling around $2,585.20 per ounce,
up 0.84%. December gold futures rose 0.7% to reach $2,588.10 per ounce.

This surge was supported by several factors,
most notably the recent geopolitical escalation between the United States and Russia.
Washington authorized Ukraine to use American weapons in its military operations against Russia,
eliciting strong reactions from Moscow,
which warned that this development could lead to the outbreak of World War III.
Russia intercepted around 30 drones,
further escalating tensions and boosting demand for gold as a safe-haven asset.

Gold Surges Over $30 per Ounce Amid Geopolitical Tensions

Gold Surges Over $30 per Ounce Amid Geopolitical Tensions

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