The rise of the US dollar has been hindered and the price of geopolitical risks has fallen due to consolidation

Gold prices have fallen three times in a row to a new low in the past three weeks

On Wednesday (November 8th), the US dollar rebounded for the third consecutive day, after some Federal Reserve policymakers opened the door for further interest rate hikes, and traders were also paying attention to Federal Reserve Chairman Powell's speech on the Fed's future policy path.

After the Federal Reserve decided to maintain policy interest rate stability and data showed a cooling in the US labor market, the US dollar hit a seven week low at the beginning of this week, and the US dollar index recorded its largest weekly decline in about four months last week. But due to ongoing market disagreements, the US dollar has found its bottom.

The political risk premium accumulated by precious metals has begun to decline. This is because although the situation in the Middle East is unpredictable, there has not been a broader conflict.

Another factor contributing to the weakness of precious metals is the reduced demand for safe haven positions. Recently, the US dollar has continued to rise. Therefore, the fear of missed opportunities prompts traders to turn their attention to the stock market rather than non yielding assets.