The US economic data was better than expected, and the US dollar rose significantly on Monday The fragile ceasefire agreement between Hezbollah and Israel supports gold prices
On Monday, the US dollar index opened higher, recapturing the 106 mark. It briefly rose to a intraday high of 106.72 during trading and ultimately closed up 0.3% at 106.38.
On Monday, the US dollar index opened higher, recapturing the 106 mark. It briefly rose to a intraday high of 106.72 during trading and ultimately closed up 0.3% at 106.38. The yield of US Treasury bonds rose first and then fell, with the two-year yield closing at 4.192% and the 10-year yield closing at 4.198%.
At the beginning of the Asian market on Tuesday (December 3), spot gold fluctuated slightly higher and is currently trading around $2641.13 per ounce. Gold prices fell 0.44% on Monday, closing at $2638.69 per ounce, ending a four-day uptrend as the US dollar rebounded sharply due to the escalation of the political crisis in France. However, the situation in France also provided some safe haven support for gold prices. In addition, several Federal Reserve officials believe that the Fed will further cut interest rates, and market expectations for the Fed's December rate cut are heating up, still providing support for gold prices.
Crude oil remained stable on Monday. At one point, WTI crude oil approached $69 in the market, but quickly gave up all the gains of the day and turned downwards. The final price remained unchanged from last Friday's close, at $68 per barrel; Brent crude oil closed down 0.24% at $71.83 per barrel.