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
On Tuesday, the US dollar index declined slightly but remained stable above the 106 level, ultimately closing down 0.04% at 106.31. The trend of US Treasury yields varies, with a slight decline in the two-year yield to close at 4.1880%, and a slight increase in the 10-year yield to close at 4.228%. On Wednesday (December 3, Beijing time), spot gold traded around 2641.51 as strong US employment data hinted that the Federal Reserve would adopt a cautious attitude towards interest rate cuts, while the weakening of the US dollar and the decline in government bond yields suppressed the decline. The market is waiting for further economic clues as Israel threatened to attack Lebanon if the ceasefire agreement with Hezbollah breaks down. At the same time, investors are also looking forward to OPEC+announcing an extension of production cuts this week, and crude oil surged 2% during the day. The WTI crude oil market once approached the $70 mark, but ultimately closed up 2.52% at $69.71 per barrel; Brent crude oil closed up 2.34% at $73.51 per barrel.
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