The expectation of the Federal Reserve cutting interest rates has increased, and gold has reached a nearly seven month high;

OPEC+production quotas have diverged, with crude oil continuing to rise by nearly 2% to a one week high

On Wednesday (November 29th), gold prices continued to rise and remained at a high of $2040 per ounce, marking the highest bid in six months. The spot gold price briefly broke through $2050/ounce in early Wednesday trading and then fell back to a high of $2040/ounce.

Investors are no longer concerned about the surge in US crude oil, gasoline, and distillate inventories, but are shifting their focus to the upcoming meetings of the Organization of the Petroleum Exporting Countries (OPEC) and allied countries such as Russia, leading to a continuous upward trend in oil prices.

The decline in inflation (in Europe) and economic growth (in the United States) have sparked more talk of "blonde girls". However, as Chris Hussey of Goldman Sachs pointed out, the third quarter GDP has become a thing of the past, and the impact of this report (and other reports released today) on the fourth quarter GDP growth is not good. In fact, Goldman Sachs lowered its GDP growth forecast for the fourth quarter of 2023 by 50 basis points to+1.4% today, as the October trade and inventory report also released today showed that domestic total revenue in the third quarter only increased by 1.5%, far below GDP growth rate. All of these have once again pushed up expectations for interest rate cuts.