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On November 10, the Houthi rebels in Yemen warned on the 9th that if the ceasefire agreement in the Gaza Strip breaks down, the group will resume attacks on Israel and ban Israeli ships from sailing in the Red Sea and the Arabian Sea.Market news: Progressive Democratic lawmakers in the United States have expressed dissatisfaction with the emerging agreement to end the shutdown and are preparing to raise objections at a Senate Democratic caucus meeting.November 10th - On November 9th local time, the Federal Aviation Administration (FAA) reported that more than 15 air traffic control centers in the United States reported staff shortages that day. The FAA announcement indicated that some facilities at some of the busiest airports in the U.S., including New York, Washington D.C., Atlanta, Dallas, and Chicago, were affected. It is understood that staff shortages may force air traffic control agencies to reduce the number of flights at certain airports to maintain safety, potentially causing widespread delays.On November 10th, Goldman Sachs stated that a growing number of US investors are buying Japanese stocks, particularly those focused on technology and artificial intelligence, attracted by their strong returns relative to US stocks. Bruce Kirk, Goldman Sachs chief Japan equity strategist, said, "The pace of US capital inflows has reached its fastest level since Abenomics." He added that active participation by US investors in Japanese equities has reached its highest level since October 2022. This influx of US funds reflects the strong performance of Japanese equities this year, boosted by the appreciation of the yen and optimism surrounding Sanae Takashis stimulus policies. In dollar terms, the Nikkei 225 index has risen approximately 30% this year, far exceeding the S&P 500s 14% gain. Kirk believes there is still room for further foreign capital inflows, as global investors net holdings in Japanese equities remain well below the peak levels seen during "Abenomics," and continued global investors need for asset diversification may also support this trend.On November 10th, the Ukrainian State Electricity Company announced that due to Russias continued attacks on Ukrainian energy facilities, most regions of Ukraine will experience 24-hour power rationing on November 10th. The company stated that the rationing will last from midnight to 11:59 PM, and industrial users power consumption will also be limited during the same period. The Ukrainian government also urged the public to conserve electricity during peak hours.

On The Gold Market, The Dollar Reigns Supreme

Skylar Williams

Jan 03, 2023 11:20

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In 2022, gold prices are anticipated to fall for the second consecutive year, as the Federal Reserve's continuous interest rate hikes spurred a dollar surge that endangered the precious metal's standing as a safe-haven asset.


In the following year, the precious metals markets are likely to be influenced by the Federal Reserve's efforts to control inflation. Precious metals had a mixed 2022 because of Russia's invasion of Ukraine, surging inflation, COVID-19 restrictions, and declining development.


At $1,821.50 per ounce as of 19:28 GMT on December 31, 2022, spot gold is anticipated to finish the year 0.4% lower, at $1,812.28 per ounce. As governments around the world closed their borders in the early stages of the Ukraine conflict this past year, bullion came close to surpassing the all-time highs above $2,000 set in 2020.


This year's rise of the U.S. dollar to 20-year highs has reduced demand for gold priced in dollars, which has decreased by $250 since its March peak.


"Given that gold is a zero-yielding asset, the Fed's huge rate hikes in 2022 seriously undermined the precious metal's traditional functions as a safe haven and inflation hedge," said Han Tan, chief market analyst at Exinity.


The U.S. central bank's top officials have made their inflation outlook crystal clear, startling investors who had previously bet on a slower rate-hike trajectory.


Julius Baer noted in its 2023 commodity forecast, "We are confident that the outlook for U.S. monetary policy will continue to drive gold prices."


Silver's current price of $23.87 per ounce is predicted to increase by more than 2% by the end of the year. Citi analysts reported that the possibility of a global recession posed a danger to the industrial demand for silver.


The metal is employed as a safe-haven asset akin to gold as well as by manufacturers of solar panels, automobiles, and technical products.


Platinum and palladium prices soared due to apprehensions of Western sanctions against Russia, the main producer of autocatalysts.


"Assume Russian supplies continue to reach the market and neither Nornickel nor PGMs are subject to restrictions. In addition, Nornickel should complete smelter maintenance to increase output "Heraeus Precious Metals reported.


The platinum price of $1,066.01 per ounce has maintained its gains and is expected to rise by over 10% every year. Despite reaching record highs in March, palladium is down nearly 6% to $1,783.35 in its second consecutive annual loss.

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