Expectations of US tariffs push the US dollar up significantly on Monday G old expands downward space
On Monday, the US dollar index hit a new four month high, reaching an intraday high of 105.709 and ultimately closing up 0.524% at 105.5. The US bond market was closed for Veterans Day.
Due to the continuous rebound of the US dollar, market profit taking, and the renewed hope of a ceasefire between Lebanon and Israel, spot gold fell close to the $2610 mark on Monday, ultimately closing down 2.39% at $2619.53 per ounce. Spot silver ultimately closed down 1.91% at $30.69 per ounce.
Given the hope of a ceasefire between Lebanon and Israel and the pressure of a strong US dollar, international crude oil prices continue to decline. WTI crude oil ultimately closed down 3.12% at $68.04 per barrel; Brent crude oil closed down 2.72% at $71.83 per barrel. US natural gas futures surged 9% within the day; The benchmark natural gas spot price at the Henry Center in Louisiana plummeted to its lowest point in 25 years.
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