Martin Wiggen: BRICS Coming Closer Helping Gold

Core Insights - Gold prices reached a record high of over $3,800 per ounce, driven by a surge in precious metals amid a weaker dollar and concerns over a potential US government shutdown [1] - Oil prices declined at the beginning of the week due to expectations that OPEC+ will increase production in November [1] Group 1: Precious Metals - The surge in gold prices indicates strong investor interest in precious metals as a safe haven during economic uncertainty [1] - The weaker dollar has contributed to the rise in gold prices, making it more attractive for investors [1] Group 2: Oil Market - The decline in oil prices reflects market expectations regarding OPEC+'s decision to hike production, which could impact supply dynamics [1] - The anticipation of increased production from OPEC+ suggests a potential shift in the oil market landscape in the coming months [1]