Mixed developments continued to take place in the US stock market, while gold prices also recorded an increase but not too impressive. All eyes were on headlines like “Trump” and “Bitcoin”.
Economic and financial news about US Stock Market Situation November 20: At the end of the trading session on November 20, the S&P 500 index was almost flat at 5,917.11 points, while the Dow Jones index increased by 139.53 points (equivalent to 0.32%) to 43,408.47 points. The Nasdaq Composite index lost 0.11% to 18,966.14 points.
Meanwhile, Bitcoin also hit a new record high, surpassing $95,000 in early morning trading in Asia. Last night, there were reports that Trump’s social media company was in talks to buy a cryptocurrency trading company, Bakkt.
The US dollar has edged up again., on the morning of November 21, DXY hit 106.56. Similarly, the yield on 10-year US bonds increased to 4.4%.
Economic and financial news about Gold price continued to rise amid geopolitical tensions. Spot gold rose 0.6% to $2,647.43 an ounce. Gold futures rose 0.8% to $2,651.70 an ounce.
Silver futures price December 2024 down 0.8% to 31.005 USD/troy ounce. Platinum price in January 2025 decreased 1.3% to 965.8 USD/troy ounce. In contrast, copper price in December increased 0.3% to 4.1555 USD/pound.
China’s spot copper premiums are widening after data showed retail sales expanded in October at the fastest pace in eight months. Beijing’s export tax cuts have also raised the prospect of tightening global supplies.
Aluminum also rose in Shanghai as Chinese producers rushed to boost exports ahead of December tariff cuts.. Some have been shipping goods in response to early delivery requests from overseas customers, while others have been moving goods to bonded warehouses at Chinese ports to benefit from tax refunds.
Iron ore prices rose to $100 a tonne as market sentiment improved. The city of Guangzhou extended its old apartment purchase program, which is seen as a positive sign for demand for related materials.
End of trading session on November 20, Brent crude futures fell 0.68% to $72.81/barrel. WTI crude futures fell 0.75% to $68.87/barrel.
