Mixed Movements Continue in the U.S. Stock Market, While Gold Records a Modest Gain. All Eyes Turn to Headlines Featuring "Trump" and "Bitcoin."

U.S. Stock Market Update on November 20:At the close of trading on November 20, the S&P 500 remained nearly flat at 5,917.11 points. The Dow Jones Industrial Average rose by 139.53 points (0.32%) to 43,408.47 points, while the Nasdaq Composite dipped by 0.11% to 18,966.14 points.

Meanwhile, Bitcoin hit a new record high, surpassing $95,000 during early trading in the Asian session. Last night, reports surfaced that former President Trump's social media company is in talks to acquire cryptocurrency exchange Bakkt.

The USD edged higher, with the DXY Index reaching 106.56 on the morning of November 21. Similarly, the 10-year U.S. Treasury yield rose to 4.4%.

Gold Market:Gold prices continued to rise amid ongoing geopolitical tensions. Spot gold increased by 0.6% to $2,647.43 per ounce, while gold futures climbed 0.8% to $2,651.70 per ounce.

Other Metals:

• December 2024 silver futures fell by 0.8% to $31.005 per troy ounce.

• January 2025 platinum futures declined by 1.3% to $965.8 per troy ounce.

• December copper futures rose by 0.3% to $4.1555 per pound.

Copper premiums in China’s spot market increased after data revealed that retail sales expanded at the fastest pace in eight months in October. Additionally, Beijing's export tax cuts have boosted prospects for a tightening global supply.

Aluminum prices rose in Shanghai as Chinese producers rushed to ramp up exports ahead of a tax reduction set for December. Some manufacturers have shipped goods early to meet foreign customer demand, while others have moved inventory to bonded warehouses at Chinese ports to benefit from tax rebates.

Iron Ore Market:Iron ore prices climbed to $100 per ton as market sentiment improved. Guangzhou extended its program to purchase older housing units, signaling positive demand for construction-related materials.

Crude Oil Market:At the close of trading on November 20, Brent crude oil fell by 0.68% to $72.81 per barrel, and WTI crude oil declined by 0.75% to $68.87 per barrel.

Source: SFVN (Compiled)