Gold prices seem to be a bit stuck following a very impressive rally to the all-time highs. On one hand we can see oil prices surging on the geopolitical risks. That should be positive for the Gold prices as well. However, we are also looking at the stronger dollar and declining bond prices – both in the aftermath of the surprisingly strong September NFP report. In fact, rising oil prices may further dent expectations for interest rate cuts in the US and… exert more pressure on Gold prices. So Gold seems to be in a bit of a tricky spot. For sure the metal would benefit from weaker US data. Nevertheless, the longer term rally remains valid, at least for now.
Daily Summary: Wall Street Recovers as Micron Shines and Oil Prices Rise Again
The US has a Diesel problem. Now Europe is being asked to open its reserves
📉 NATGAS falls 1.2%. What about winter?
Morning Wrap: Tech Rally in Asia Following Micron Results and Weakening Yen Despite Hawkish BoJ