US stocks hit new records, while most safe-haven commodities like silver fell.
Economic and financial news on the US stock market situation on November 26: The Dow Jones Industrial Average rose 0.99% to 44,736.57 points. The S&P 500 Index advanced 0.3% to 5,987.37 points. At one point, both indexes touched new record highs. The Nasdaq Composite Index added 0.27% to 19,054.84 points.
Bitcoin price failed to surpass the $100,000 mark and fell back to around $94,000 due to profit-taking by investors.
The USD remains strong. On the morning of November 26, the DXY index approached 106.7 points. The yield on 10-year US Treasury bonds fell to around 4.285%.
Closing session on November 25, spot gold contracts fell by 3.4% to 2,619.43 USD/ounce. Similarly, gold futures contracts fell by 3.4% to 2,620.8 USD/ounce.
Financial economic news on metal group, the price of silver contract for January 2025 fell by 3% in the first trading session of the week to 30,396 USD/troy ounce. Similarly, silver for January 2025 also fell by 3% to 944.6 USD/troy ounce. Copper price edged up 0.5% to 4.1215 USD/pound.
Easing geopolitical tensions also triggered a sell-off in crude oil markets. Brent crude futures fell 2.871 TP3T to $73.01 a barrel. WTI crude futures fell 3.231 TP3T to $68.94 a barrel.
The ceasefire in Lebanon reduces the likelihood that the incoming US administration will impose tough sanctions on Iranian crude. The OPEC producer, which currently supplies about 3.4 million barrels of oil a day, is the group’s third-largest producer.
