US inflation pressure persists, with the US dollar continuing to rise strongly on Thursday The gold price hitting a two month low

15 Nov, 2024

On Thursday, the US dollar index briefly reached the 107 level, then gave up all its gains, but rose again after Powell's hawkish speech

On Thursday, the US dollar index briefly reached the 107 level, then gave up all its gains, but rose again after Powell's hawkish speech, ultimately closing up 0.36% at 106.87, marking the fifth consecutive trading day of gains. The yield of US Treasury bonds fluctuated, with the benchmark 10-year yield closing at 4.443%; The two-year US Treasury yield, which is more sensitive to monetary policy, closed at 4.36%.

Gold prices hit a bottom and rebounded on Thursday, as they were suppressed by the strong rebound of the US dollar. Earlier, they fell below the 100 day moving average and hit a nearly two month low of $2536.68 per ounce. However, they were later supported by bargain hunting, and the closing decline of gold prices narrowed to $2564.51 per ounce.

International crude oil slightly rose as concerns about oversupply and demand caused by the strengthening of the US dollar were offset by a significant drop in US fuel inventories. WTI crude oil ultimately closed up 0.78% at $68.44 per barrel; Brent crude oil closed up 0.68% at $72.25 per barrel.

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