Gold prices fell for the third day in a row, declining by ₹1,470 per 10 grams in early trade on Wednesday, November 13, due to a stronger US dollar in global markets. The American currency traded near three-month high levels ahead of the key inflation data which could give cues about possible rate cuts by the US Federal Reserve.
As Expected, Spot Gold Fell from $2640 to $2590
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Bitcoin Near Approaches $80,000
Bitcoin has surged to a record high of nearly $80,000 due to US President-elect Donald Trump support of digital assets and the possibility of pro-crypto lawmakers in Congress.
What Should Be Your Near-Term Strategy For The Gold?
With US election uncertainties behind us and the Fed cutting rates as anticipated, gold prices are experiencing profit-taking amid a lack of new catalysts.
Silver Price Forecast: Silver falls as dollar strengthens
Silver Price Forecast: Silver (XAG/USD) declined from a two-day high of $32.00 and fell below the 50-day simple moving average (SMA) to $31.37 late in the North American session.
Trump’s policies are likely to increase inflation risks
“From last week’s record high, Gold (XAU/USD) had thus fallen by around $140. Selling pressure was caused by a significantly stronger US dollar and a sharp rise in US bond yields. In previous weeks, neither of these factors had been a hindrance for Gold. However, the extent of the USD appreciation and the rise in yields were apparently too strong this time to be ignored by Gold.”
Zelensky admits Trump wants to end the war
Zelensky acknowledged that Trump wants to end the war, but stressed that a “fair” and “lasting” solution should be preferred to a hasty peace that would benefit Russia. “I think Trump really wants a quick decision,” Zelensky said. “He wants this war to end, but a quick solution could mean losses for Ukraine.”