Finance

Oil prices retreated from earlier highs after President Donald Trump announced that the United States would not execute military operations against Iran prior to the upcoming November midterm elections. Front-month Brent crude futures slipped to around $104 a barrel, while West Texas Intermediate fell slightly to approximately $91 a barrel. The geopolitical de-escalation helped ease broader inflation anxieties, though an approaching hurricane in the Gulf of Mexico kept a floor under the market.

Gold futures experienced a notable upswing on Friday, jumping roughly 1.5% to top $4,220 per troy ounce. The precious metal found fresh momentum as a brief moderation in both the U.S. dollar index and long-dated Treasury yields reduced the opportunity cost of holding the safe-haven asset. The gains come against a backdrop of heightened long-term inflation forecasts from domestic consumers.

The cryptocurrency market steadied near the end of the week, with Bitcoin trading around the $82,300 to $82,500 range after hitting multi-week lows. The digital asset sector successfully navigated a heavy wave of long-side liquidations triggered by macroeconomic pressures and hawkish Federal Reserve minutes. Meanwhile, institutional confidence remained resilient, supported by projections from JPMorgan estimating substantial crypto inflows for the full year.