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On the 29th, US Treasury yields and the dollar fell, while gold saw its biggest monthly drop post-Trump, with a jobs report ahead.
Last Friday, the US dollar index continued its downward trend and fell below the 106 level, ultimately closing down 0.31% at 105.70. The yield of US Treasury bonds has declined slightly, with the two-year yield falling below the 4.2% mark and ultimately closing at 4.167%, and the 10-year yield also falling below the 4.2% mark and closing at 4.174%.
On Monday (December 2nd) morning trading in the Asian market, spot gold fluctuated slightly lower and is currently trading at $2646.95 per ounce. Gold prices rose slightly last Friday, boosted by the decline in the US dollar and ongoing geopolitical tensions. However, November still recorded its largest monthly decline since September last year, mainly due to post election selling triggered by Trump's victory.
Affected by the easing of supply risks from the Israel Hezbollah conflict and the prospect of increased supply in 2025, oil prices fell more than 3% last week. WTI crude oil fluctuated within the range of $68-69 last Friday, ultimately closing down 1.06% at $68 per barrel; Brent crude oil closed down 0.85% at $72 per barrel.
The market digested gains, the US dollar fell, South Korea's politics are turbulent, and the Fed may cut rates, limiting gold's gains.The market digested gains
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