US dollar fell Friday, while rising bond yields capped gold gains.
Last Friday, due to the uncertainty of the upcoming Trump administration's policies, the US dollar index remained volatile and ultimately closed down 0.06% at 108.03. US Treasury yields rose across the board, with the two-year bond yield closing at 4.3340% and the 10-year bond yield closing at 4.6300%.
The gold price closed down 0.48% last Friday, closing at 2620.96 US dollars/ounce, barely above the 100 day average of 2616.01. As the yield of US treasury bond bonds rose, the appeal of non yield gold was weakened in the scarce trading during the holiday. The market focused on the return of President elect Trump and the potential impact of his inflation stimulating policies on the prospects of the Federal Reserve in 2025.
Due to a greater than expected decrease in US crude oil inventories, WTI crude oil ultimately closed up 0.81% at $69.61 per barrel; Brent crude oil closed up 0.73% at $73.36 per barrel.
Dollar struggles to gain ahead of US inflation data, yen extends rally
EBC Markets Briefing | Crude prices on solid footing amid deep supply concerns
The yen is strengthening before our very eyes
The Inflation Measure Keeping the Fed Cautious
US Yields Rise Despite Buybacks; Eyes on ECB Hike
Bitcoin edges lower for a 4th day, capped by the 50-week MA
GBPUSD (4H) recovery holds above 1.3550, 100-SMA remains key hurdle
