Inflation has risen less than expected, the US dollar fell significantly last Friday The gold prices rebounded by nearly $30
Last Friday, due to the cooling of the Federal Reserve's favorite inflation indicator, which warmed expectations of interest rate cuts, the US dollar index fell from a two-year high and ultimately closed down 0.543% at 107.83, but still rose for the third consecutive week. The yield of US Treasury bonds has weakened across the board, with the two-year bond yield closing at 4.317% and the 10-year bond yield closing at 4.519%.
Gold prices surged nearly $30 last Friday, supported by the weakening of the US dollar and US Treasury yields. Previously, US economic data showed a slowdown in inflation, but the hawkish interest rate outlook of the Federal Reserve has put gold prices on track for a weekly decline. In addition, several Fed officials have expressed support for slowing down interest rate cuts next year, which still makes gold bulls hesitant.
Supported by the weakening of the US dollar and Trump's threat to the EU to purchase US oil and gas, international crude oil prices fell more than 1% before turning up. WTI crude oil ultimately closed up 0.38% at $69.48 per barrel; Brent crude oil closed up 0.47% at $72.65 per barrel.