Gold and oil pop as Gaza ceasefire hopes fade

<p>Gold is at the highs of the week in a quick $6 move higher to just below $2000. It's been largely a one-way trade since the Hamas attacks on October 7.</p><p>Oil is also at the highs of the day in a rise above $85, paring much of the weekly loss.</p><p>The market has been waiting for the Israel counter-offensive to start but it's been slowed by US requests and today there was talk of a 'breakthrough' in ceasefire talks <a href="https://www.forexlive.com/news/there-has-been-a-breakthrough-on-hamas-hostage-negotiations-cnn-20231027/" target="_blank" rel="follow">from CNN</a>. However reports are all over the place and video from on the ground show heavy airstrikes in Gaza with Israeli military spokesmen talking about larger incursions.</p>

This article was written by Adam Button at www.forexlive.com.