Gold Rose While Brent Oil Fell During the US Election Week - Sözcü Newspaper
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5 Articles
In commodity markets, the week concluded with increased safe-haven demand following the US midterm congressional elections and falling bond yields supporting precious metals, while oil prices saw a sharp decline due to expectations of easing tensions in the Middle East.
Host: Zheng Jiale Guest: Liang Zhenhui, Independent Analyst Market Focus: The US 10-year Treasury yield fell 7.15 basis points last week, marking its fifth consecutive week of decline.
At 7:16 AM on November 9th (Vietnam time), the spot gold price rose 0.2% to $4,073.59 per ounce. US gold futures for December 2026 also edged up 0.2%, standing at $4,082.30 per ounce. Gold prices fell below $4,050 after the US midterm congressional elections. Gold reached a more than two-week high as the US dollar and US bond yields weakened. Gold prices rose to their highest level in over two weeks.
In commodity markets, the week concluded with increased safe-haven demand following the US midterm congressional elections and falling bond yields supporting precious metals, while oil prices saw a sharp decline due to expectations of easing tensions in the Middle East.
Commodity markets saw sharp price movements this week. Gold ended its three-week losing streak and rose 5% on increased safe-haven demand following the US midterm elections. Expectations of reduced tensions in the Middle East pulled Brent crude down 13.4%, while platinum, silver, and nickel saw strong gains. In agricultural commodities, supply expectations influenced prices in different directions. 🚆
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