Weak US inflation data Market expected the Fed interest rates approaching to the peak The US dollar kept felling

Weak US inflation data

Market expected the Fed interest rates approaching to the peak

The US dollar kept felling

On Monday (November 20), the key factors driving the decline of gold price included a slight recovery in the yield of US treasury bond bonds, and the market became more cautious, because traders were waiting for the emergence of new catalysts to continue to bet on the Fed's interest rate resolution. In addition, the market continues to evaluate last week's inflation data in the United States and is seeking clues in the November meeting minutes of the Federal Open Market Committee released on Wednesday.

With OPEC+widely expected to announce further production cuts after a meeting of member states early next week, international oil prices rose by over 2% on Monday.

The price of WTI due in December was $77.60 per barrel, up $1.71 per barrel, or 2.3%. It briefly broke resistance near the 200-day moving average of 78.12 during the session. The more active January futures rose by 2.39 US dollars per barrel, or 1.8%, to 77.83 US dollars per barrel.