China will release its third-quarter gross domestic product, while Japan's inflation data and South Korea's rate decision are also expected this week.
December gold futures contracts closed 3.11% higher Friday, turning in the strongest one-day advance since Dec. 2022, and rising above their 50- and 200-day moving averages for the first since Sept. 20. Gold's weekly 5.22% gain was the most since mid-March, and left the precious metal 6.31% higher on the year. The VanEck Gold Miners ETF jumped 4.36% Friday, while the VanEck Junior Gold Miners ETF climbed 5.12%.
In energy markets, West Texas Intermediate and Brent crude oil both turned in their best days since April 3, with November WTI futures surging 5.77% to $87.69 a barrel and December Brent climbing 5.69% to $90.89/bbl. The national average for a gallon of gasoline dropped to $3.628, down 12 cents from a week ago and 22 cents from a month ago, the American Automobile Association said. Among soft commodities, orange juice closed at a record, with November futures rising 0.17% to $3.
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