Gold prices rose again in the Asian session on Wednesday (December 3rd) after holding around $4,164, nearing its highest level since late October. This increase was driven by strong expectations that the Federal Reserve will cut interest rates next week. Speculation that Jerome Powell's successor might be more dovish also weakened the US dollar, giving room for gold—which offers no yield—to strengthen. In addition to interest rate factors, geopolitical tensions such as the Russia-Ukraine conflict have led investors to return to gold as a safe haven asset. Although sentiment in the stock...
Gold prices edged up and held around $4,210 per troy ounce, still comfortably above $4,200. Much weaker-than-expected US private employment data (ADP) weakened the dollar, increasing market confidence that the Fed will cut interest rates by 25 basis points next week. This is the "main fuel" for gold.Going forward, gold's direction depends heavily on US jobless claims and PCE inflation data. If the data increasingly indicates a slowing economy and tame inflation, speculation about a rate cut will strengthen, and gold has the opportunity to rise further. If inflation remains hot, gold's upside...
Brent oil prices today remain heavily influenced by two main factors: the global demand outlook and supply issues from major producing countries. On the demand side, the market is still grappling with concerns about a global economic slowdown amidst the interest rate cut cycle of major central banks, such as the Fed and Europe. On the supply side, Brent prices are held back by geopolitical risk sentiment and signals of a supply glut. Tensions in oil-producing regions (Russia-Ukraine, the Middle East, and policies toward Venezuela and Iran) remain a price-supporting factor, raising the risk...