Posted 12/3/2023, 5:00:00 PM
Gold Hits Record High as Stocks Rally and Dollar Drops
- Gold prices hit record highs while Dow Jones broke out to all-time highs amid falling US bond yields
- USD/JPY broke below 100-day moving average, signaling potential for further losses
- Upcoming US economic data, especially non-farm payrolls, could shift rate cut expectations and reverse recent asset price trends
- British pound uptrend relies on dollar weakness rather than confidence in sterling
- Crude oil prices dropped after OPEC+ announced voluntary production cuts into 2024