Consumer confidence in Australia fell in January, driven by increased worries about interest rates and job security. The Westpac-Melbourne Institute Consumer Sentiment Index remains in pessimistic territory below neutral levels.

Gold and silver surged to all-time highs on Monday, propelled by mounting concerns over Federal Reserve independence after the U.S. Justice Department threatened a criminal indictment against the central bank, alongside escalating geopolitical tensions as protests in Iran intensified.

Gold prices surged to a record $4,601.17 per ounce as weaker-than-expected U.S. payroll data heightened expectations for Federal Reserve interest rate cuts. Ongoing geopolitical tensions in the Middle East and Venezuela further supported the metal's appeal as a safe haven.

Oil prices extended gains on Friday as traders assessed heightened geopolitical risks, including U.S. President Donald Trump’s warnings against Iran and ongoing efforts to exert influence over Venezuela’s oil exports.