US dollar falling consolidation Boosted by risk aversion, gold price returns above $2,610

19 Nov, 2024

On Monday, the US dollar index fluctuated and fell, hitting 106.81 at one point during trading and ultimately closing down 0.44% at 106.21.

On Monday, the US dollar index fluctuated and fell, hitting 106.81 at one point during trading and ultimately closing down 0.44% at 106.21. The benchmark 10-year US Treasury yield closed at 4.4210%; The two-year US Treasury yield, which is more sensitive to monetary policy, closed at 4.2890%.

 

The gold price rose sharply on Monday after falling for six consecutive days, due to the stagnation of the big rise of the US dollar, and the increased uncertainty of the Russia-Ukraine conflict, which triggered a new demand for risk aversion. Spot gold jumped 1.8% to $2608.19 per ounce, breaking away from the two month low hit last Thursday. The settlement price of US futures was $2614.60, up 1.7%.

 

Due to the escalation of the conflict between Russia-Ukraine conflict, Russia launched the largest air strike against Ukraine in nearly three months last Sunday, and international oil prices soared. WTI crude oil ultimately closed up 3.22% at $69.05 per barrel; Brent crude oil closed up 3.06% at $73.17 per barrel.

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