Gold prices climbed again, hitting a six-week high on Monday, December 1, driven by a weakening US dollar and growing investor appetite for safe-haven assets. Spot gold hit $4,240 per ounce, while December gold futures reached $4,276. Silver was even more striking, breaking an all-time high of $57.86 before stabilizing at $57.48 per ounce. A sell-off in US stock futures and falling crypto prices have made precious metals increasingly a risk-off destination.
This rise was also fueled by strong expectations that the Fed will cut interest rates in December, following a series of dovish comments and weak US economic data. The "risk-off" sentiment prompted investors to shift funds from speculative assets to precious metals. Platinum and palladium also rallied, while the market now awaits the release of core PCE inflation data on Friday to see if the rally will continue.
The gold price at the time of this analysis was published was $4,229.
Disclaimer:
This article is analytical in nature and does not constitute definitive information. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
Fundamentally, Brent crude oil is trending higher today, hovering around USD 63 per barrel, continuing its rebound from its lows in recent weeks. The main catalyst was the OPEC+ meeting, which decided...
Gold (XAU/USD) maintained its intraday gains near a two-week high heading into Friday's European session, with investors awaiting a sustained move. The increasing likelihood of a US Federal Reserve (...
World oil prices are approaching their longest monthly decline since 2023. Brent is stable above $63 per barrel and WTI is around $59, with both expected to post a fourth consecutive month of declines...
Silver prices are currently trending in the gold direction, supported by expectations that the Federal Reserve will cut interest rates in the coming months. The prospect of lower interest rates typica...
In the morning session in Singapore at around 7:36 a.m., gold prices were recorded as having risen 0.7% to $4,187 per ounce, while the Bloomberg Dollar Spot Index was flat, indicating no significant p...
Japanese stocks closed lower on Monday (December 1), led by the chip and real estate sectors, as expectations of an interest rate hike by the Bank of Japan (BOJ) grew stronger. Kioxia Holdings fell 5.6% and Mitsui Fudosan fell 3.7%, while the...
Gold prices climbed again, hitting a six-week high on Monday, December 1, driven by a weakening US dollar and growing investor appetite for safe-haven assets. Spot gold hit $4,240 per ounce, while December gold futures reached $4,276. Silver was...
The Japanese yen (JPY) continued to strengthen throughout the Asian session on Monday (December 1st) after Bank of Japan Governor Kazuo Ueda again signaled that an interest rate hike could be imminent. These hawkish comments sent Japanese...
Trading on the Chicago Mercantile Exchange (CME) was halted on Friday (November 28th) following a cooling issue at one of its data centers.
"Due to...
Conflicting signals from the Federal Reserve on the timing and magnitude of U.S. interest rate cuts have accelerated hedging flows into swaptions...
European stocks ended Friday in positive territory as investors digested the end of a choppy month.
The pan-European Stoxx 600 closed the session...
Both the STOXX 50 and the STOXX 600 hovered around the flatline on the final trading day of a volatile November, as the recent rally in global...