Gold rebounded due to the weakness of the US dollar, while oil prices rebounded to stop three weeks of continuous decline

Gold rebounded due to the weakness of the US dollar, while oil prices rebounded to stop three weeks of continuous decline

The downward pressure on the US dollar continues unabated

On Monday (November 13), before the release of the US consumer price index (CPI), spot gold rebounded slightly due to the weakness of the US dollar and the decline in the yield of US treasury bond bonds. As the yield of US treasury bond bonds declined, the US dollar weakened as a whole, and gold prices rose due to some buyers.

Crude oil prices have rebounded, and traders are waiting for this week's industry report to confirm whether the recent decline is excessive. Goldman Sachs analysts said that the resurgence of demand concerns has driven the sell-off, but consumption remains strong throughout the year and may continue to maintain this momentum in 2024.

Most traders are seeking the release of the US Consumer Price Index (CPI). Previously, a New York Fed poll showed that one-year inflation expectations were cooling, while prices in October were expected to drop to 3.3% from 3.7% in the same period last year. The core CPI is expected to be 4.1%, which is consistent with the previously recorded data. The yield of US treasury bond bonds rose slightly on Monday. In late New York on Monday (November 13), the yield of US benchmark 10-year treasury bond fell 1.79 basis points to 4.6340%, and intraday trading was between 4.6956% and 4.6221%. The two-year US Treasury yield fell by approximately 3.00 basis points, hitting a daily low of 5.0306%, while the US stock market initially rose to a daily high of 5.0793%. The yield difference between the three month Treasury bill and the 10-year US Treasury bond fell 3.208 basis points to -79.416 basis points. The yield spread of the 02/10 year US Treasury bond increased by 0.768 basis points to -40.280 basis points. The yield of 10-year inflation protected treasury bond bonds (TIPS) fell 1.30 basis points to 2.3073%.