0902 678 001
  An Phuc Mechanical Electrical Equipment Co., Ltd specializes in manufacturing Conduit & Fitting, Tray, Trunking, Ladder.
My account
Currency :
Product List

Gold prices and US stocks increased sharply thanks to cooling inflation

Sunday, 12/11/2023 GMT+7

Gold prices and US stocks increased sharply thanks to cooling inflation

Each ounce of gold increased by nearly 20 USD, and US stocks recorded their best session since April, following the country's inflation data.

Closing the trading session on November 14, the world spot gold price increased by 17 USD to 1,962 USD per ounce. During the session, the price at one point rose to 1,970 USD.

Prices accelerated right into the US session on the evening of November 14, after the US Department of Labor announced data showing that the country's inflation continued to cool in October. The US consumer price index (CPI) only increased by 3 .2% over the same period last year, lower than forecast and slower than September.

This data further strengthens investors' expectations that the US Federal Reserve (Fed) has completed its campaign to raise interest rates. The market is currently betting on a 100% chance that the Fed will keep policy unchanged in the December meeting. Previously, this probability was 86%.

World gold prices rebounded in the session on November 14.

World gold prices rebounded in the session on November 14.

"The lower-than-expected CPI data supported gold prices. We expect that in the fourth quarter, inflation will cool down even more. This will weaken the USD and pull gold prices up. In the next 6 months, we I forecast the price towards 2,100 USD," commented Daniel Ghali - commodity strategist at TD Securities.

Dollar Index - measuring the strength of the greenback against a basket of major currencies - decreased 1% on November 14. The 10-year US government bond yield also fell to its lowest in more than a month after inflation data.


On the US stock market , key indexes also increased sharply yesterday. The DJIA closed the session up 490 points, equivalent to 1.4%. The S&P 500 rose 1.9% and the Nasdaq Composite rose 2.4%. Both recorded their best session since April 2023.

"The market is optimistic that inflation has cooled to the point where the Fed can put the brakes on the tightening process," said Keith Buchanan - Chief Investment Officer at Globalt Investments.

Shares of banks such as Bank of America and Wells Fargo yesterday soared thanks to expectations that the economy would avoid a recession. Shares of electric car company Tesla closed up 6%. Energy firms Enphase Energy, SolarEdge Technologies and real estate firm Boston Properties all recorded increases of more than 10%.

Ha Thu (according to Reuters, CNBC)

Written : admin

Search date :

from      to      

Support Online
0902 678 001