Commodity markets saw mixed trading on October 30, with oil prices climbing amid rising tensions between the US and Iran. The prospect of renewed US military strikes against Iran raised concerns over potential disruptions to energy supplies, driving up crude prices. Brent crude surpassed $115 per barrel, while West Texas Intermediate hovered near $103.
Meanwhile, gold prices stabilized around $4,000 an ounce but faced a second consecutive monthly decline. The drop was attributed to inflation worries and the likelihood of a US interest rate hike before the end of the year. Energy-led inflation has heightened expectations of tighter monetary policy, weighing on the precious metal.