Powell reignites interest rate cut expectations, spot gold breaks through the $4,200 mark, silver continues to soar, global stock markets rebound collectively, and the decline in cryptocurrencies persists

Powell's concerns about the weak labor market have strengthened expectations for an interest rate cut in October, reviving market sentiment. Global stock markets have collectively rebounded, while gold and silver prices have risen, and cryptocurrencies continue to decline.

On October 15, Asian stock markets rose, European stocks opened higher across the board, and spot gold broke through $4,200 per ounce, rising nearly 1.4% during the day.

Bloomberg strategist Garfield Reynolds stated that the Federal Reserve's dovish stance is driving a new round of weakness in the dollar, which also clears the way for gold-centered hedging strategies. Despite concerns about an artificial intelligence bubble, there is still a need to buy stocks and increase gold holdings to guard against these worries becoming a reality, a theme that seems to be re-emerging.

Cryptocurrencies continue to decline, with Bitcoin down 0.9% and Ethereum down 0.7%.

• European stocks opened higher, with the Euro Stoxx 50 index up 1.27%, the German DAX index up 0.2%, the UK FTSE 100 index up 0.25%, and the French CAC 40 index up 0.98%.

• LVMH's stock price surged by 13%

• Spot gold broke through $4,200 per ounce, rising nearly 1.4% during the day.

• Cryptocurrencies fell, with Bitcoin down 0.9% to $112,076 and Ethereum down 0.7% to $4,091.

Spot gold broke through $4,200 per ounce, rising nearly 1.4% during the day.

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