Abstract:Weak US inflation data Market expected the Fed interest rates approaching to the peak The US dollar kept felling
Weak US inflation data
Market expected the Fed interest rates approaching to the peak
The US dollar kept felling
On Monday (November 20), the key factors driving the decline of gold price included a slight recovery in the yield of US treasury bond bonds, and the market became more cautious, because traders were waiting for the emergence of new catalysts to continue to bet on the Fed's interest rate resolution. In addition, the market continues to evaluate last week's inflation data in the United States and is seeking clues in the November meeting minutes of the Federal Open Market Committee released on Wednesday.
With OPEC+widely expected to announce further production cuts after a meeting of member states early next week, international oil prices rose by over 2% on Monday.
The price of WTI due in December was $77.60 per barrel, up $1.71 per barrel, or 2.3%. It briefly broke resistance near the 200-day moving average of 78.12 during the session. The more active January futures rose by 2.39 US dollars per barrel, or 1.8%, to 77.83 US dollars per barrel.
Gold prices have conquered $2010 and hit a six-month high, Oversupply expectations cover the oil market, Oil prices continue to be under pressure before the OPEC+meeting
On Friday (November 24th), gold prices broke through $2000 per ounce, and there were almost no trading leads during the US market holiday. The focus now is on upcoming business activity data to find more clues about the world's largest economy. Gold has risen for the second consecutive week, and the market is increasingly convinced that the Federal Reserve has completed its interest rate hike.
The US dollar weakened, while gold slightly rose during Thanksgiving OPEC+postpones meeting, oil prices continue to decline
Market trading is light before Thanksgiving holiday Initial application and other data support the rebound in US dollar and US bond yields