The US dollar weakened, while gold slightly rose during Thanksgiving OPEC+postpones meeting, oil prices continue to decline

The US dollar weakened, while gold slightly rose during Thanksgiving

OPEC+postpones meeting, oil prices continue to decline

On Thursday (November 23), gold prices corrected near the $2000/ounce level and stabilized above $1990/ounce, with a slight increase supported by the weakening US dollar.

After OPEC+unexpectedly postponed the highly anticipated production policy meeting, the market expects that Europe's OPEC may not further reduce production next year after the postponement of the policy meeting by the oil producing countries group. Oil prices continue to decline, falling by about 1% on Thursday.

Due to the Thanksgiving market closure in the United States, gold prices rose slightly by 0.14% on Thursday, with light trading. Previously, it fell from a critical level of overnight trading, as strong labor market data exacerbated uncertainty in the US interest rate path.