New York gold market conditions: Gold closed down $77.10 on a strong dollar and concerns about Fed interest rate guidance.

New York gold futures closed lower on Monday (November 11), with the market weighed down by the value of the currency.dollar bill Including the fact that investors are worried that the effect is thereSelectionpresidentfromDonald Trump This can lead to a monetary policy of theFederal Reserve Banketc. (A deer) face uncertainty

Gold contracts on the COMEX (Commodity Exchange) market will be delivered in December. fell $77.10 or 2.86% to close at $2,617.70/ounce.

Cash contract for December delivery. fell by 83.6 cents, or 2.66%, to close at $30.613/oz.

Platinum contract for delivery in January. fell $9.00 or 0.92% to close at $969.50/ounce.

Palladium contract for delivery in December. fell $9.90 or 1.00% to close at $982.30/oz.

The dollar index, which measures the greenback against six major currencies, rose 0.52% to its highest level since July. which affects the gold market This is because the strong dollar makes gold contracts priced in dollars. They are more expensive and more attractive to investors who hold other currencies.

Gold prices have fallen significantly since Trump won the election, said Daniel Jali, commodities strategist at TD Securities. In the past week gold prices fell by almost 2% as investors worried that Trump’s measures would increase inflation. And it may prompt the Fed to delay cutting interest rates.

CME Group’s latest FedWatch Tool shows that 65% of investors favor a 0.25% interest rate cut for the Fed at its December meeting. That’s down from the 80% weight given before Trump won the election.

Investors are watching Jerome Powell, the chairman of the Federal Reserve, who will deliver a speech on the US economic outlook. At a conference in Dallas, Texas on Thursday, November 14 at 3:00 pm US time or on Friday, November 15 at 3:00 am Thai time.

Investors will also be watching the October release of the US Consumer Price Index (CPI) on Wednesday for signs of inflation trends and the Fed’s interest rate guidance.

By Rattana Phongtawich