Gold prices fell for the third day in a row, declining by ₹1,470 per 10 grams in early trade on Wednesday, November 13, due to a stronger US dollar in global markets. The American currency traded near three-month high levels ahead of the key inflation data which could give cues about possible rate cuts by the US Federal Reserve.
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As Expected, Spot Gold Fell from $2640 to $2590
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What Should Be Your Near-Term Strategy For The Gold?
With US election uncertainties behind us and the Fed cutting rates as anticipated, gold prices are experiencing profit-taking amid a lack of new catalysts.
Silver Price Forecast: Silver falls as dollar strengthens
Silver Price Forecast: Silver (XAG/USD) declined from a two-day high of $32.00 and fell below the 50-day simple moving average (SMA) to $31.37 late in the North American session.
Trump’s policies are likely to increase inflation risks
“From last week’s record high, Gold (XAU/USD) had thus fallen by around $140. Selling pressure was caused by a significantly stronger US dollar and a sharp rise in US bond yields. In previous weeks, neither of these factors had been a hindrance for Gold. However, the extent of the USD appreciation and the rise in yields were apparently too strong this time to be ignored by Gold.”
Gold price today: Yellow metal declines after Fed cuts rates by 25 bps
Gold price today: Gold rates declined in the domestic futures market Friday morning on profit booking at higher levels after the US Fed cut rates by 25 bps on expected lines.
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Crude Oil Technical Analysis: OPEC+ Needs to Act
Crude Oil prices could be set for a bear cycle as Donald Trump is set to become the next US President in January 2025. Trump has already committed in the runup to the presidential election that regulation and permitting will become less strict. At the same time, funds allocated to green energy will be diverted towards shale Oil and fossil fuel projects. That means structural additional supply is set to be released in 2025, on top of OPEC+’s foreseen supply normalization.
US natural gas prices are side-lined
Natural Gas (NG) Outlook: The recovery from Monday’s 2.665 low, made marginally above the October low at 2.636, is ongoing with US natural gas prices treading water at present. For another upside thrust to unfold, a rise above Tuesday’s high at 2.903 would need to be seen. If so, the 20 June high at 3.016 would be back in play. Further up lie the early to late October highs at 3.081-to-3.141.