Gold hits a two-week high, oil falls for four straight days, and money is moving in two directions.
Spot gold rose 1.9% to $4,134.83 in early trading on November 5, its highest since October 22. It had climbed about 3.4% the previous day, its biggest one-day gain since August 19. December gold futures rose 1.8% to $4,144.20; silver gained 1.7% to $53.12, platinum rose 2.1% to $1,527.65, and palladium added 2.6% to $1,030.14.
Oil prices, meanwhile, continued to fall: Brent dropped $0.97 (-1.03%) to $93.65, while WTI fell $1.14 (-1.29%) to $86.98, marking a fourth consecutive day of losses. The previous day, both benchmarks fell more than 8%, reaching their lowest levels since August 31. The dollar index slipped 0.06% to 101.41, the 10-year Treasury yield declined to 4.87%, and traders put the odds of a December Fed rate hike at 82%.
One useful takeaway: gold and oil moving in opposite directions suggests that a single shift in risk sentiment isn't driving both. Gold is responding to the dollar and yields, while oil is tracking supply and demand and expectations for peace talks. The Bank of England's decision is also due tonight at 20:00. A Reuters poll expects a 25-basis-point hike to 4% (from 3.75%), with a 7–2 vote. That's a forecast, not the outcome.
With gold and oil moving in opposite directions, which do you think is a better indicator of where the market is headed next?#黄金 #CrudeOil
Spot gold rose 1.9% to $4,134.83 in early trading on November 5, its highest since October 22. It had climbed about 3.4% the previous day, its biggest one-day gain since August 19. December gold futures rose 1.8% to $4,144.20; silver gained 1.7% to $53.12, platinum rose 2.1% to $1,527.65, and palladium added 2.6% to $1,030.14.
Oil prices, meanwhile, continued to fall: Brent dropped $0.97 (-1.03%) to $93.65, while WTI fell $1.14 (-1.29%) to $86.98, marking a fourth consecutive day of losses. The previous day, both benchmarks fell more than 8%, reaching their lowest levels since August 31. The dollar index slipped 0.06% to 101.41, the 10-year Treasury yield declined to 4.87%, and traders put the odds of a December Fed rate hike at 82%.
One useful takeaway: gold and oil moving in opposite directions suggests that a single shift in risk sentiment isn't driving both. Gold is responding to the dollar and yields, while oil is tracking supply and demand and expectations for peace talks. The Bank of England's decision is also due tonight at 20:00. A Reuters poll expects a 25-basis-point hike to 4% (from 3.75%), with a 7–2 vote. That's a forecast, not the outcome.
With gold and oil moving in opposite directions, which do you think is a better indicator of where the market is headed next?#黄金 #CrudeOil
