【Top1 Evening】Optimism pressures on the US dollar.When will the gold price hit 1900? Analyst: After Thanksgiving

Gold: Spot gold rose 0.1% to US$1,880.81 per ounce.

US gold futures fell 0.4% to US$1,878.30. Spot silver rose 0.1% to $24.48 per ounce. Palladium rose 0.3% to $2,323.74. Platinum rose 0.6% to $930.40.

Craig Erlam, a senior market analyst at Oanda, said, “The fall in the U.S. dollar in recent days has reduced the pressure on gold prices, but gold is still struggling to get out of the trough. Gold found support in the region of approximately US$1,850 to US$1,860, but it has been difficult to break through 1900. US dollars."

Jeff Wright, executive vice president of GoldMining, believes that the gold market will continue to be weak and will not improve until Thanksgiving next week. "After Thanksgiving, the decline in gold will be suspended, and then Washington must return to discussing the spending bill, with a view to funding the government after December 11."

Forex：The pressure on the US dollar increased on Wednesday, hitting a low in more than a week. The dollar index fell to 92.250, the lowest since November 9.

The British pound consolidated its downward trend, with GBP/USD GBP=D3 falling 0.3% to 1.3182. As the trade negotiations between the UK and the EU appear to exceed the deadline again, the possibility that the UK will not be able to reach a trade agreement before the end of the transition period on December 31 is increasing.

ANZ still believes that New Zealand's benchmark interest rate will go negative in August 2021, but said it is currently " little uncertain".

And obviously negative interest rates are no longer urgent. However, the trend reversed a little later in the afternoon. The New Zealand dollar traded at 0.6871 against the US dollar and the Australian dollar fell back to 0.7264.

Crude oil: At midday in Asia on Wednesday, oil prices consolidated within a narrow range.

US WTI crude oil futures prices fell 11 cents or 0.27% to US$41.32 per barrel; Brent crude oil futures prices fell 2 cents or 0.05% to US$43.73 per barrel; natural gas prices rose 0.07% to US$2.690.

The data released by the American Petroleum Institute showed that the increase in US crude oil inventories exceeded market expectations, triggering market concerns about weak demand and oversupply. According to data released by the American Petroleum Institute (API), as of the week of November 13, US crude oil inventories increased by 4.174 million barrels, while the market was originally expected to increase by only 1.95 million barrels.

Stocks: European stock markets closed down across the board, falling from an eight-month high. British and German stocks fell, while French stocks rose. The tightening of restrictions in many European countries has made investors doubt whether the economy can rebound quickly, overwhelming the good news about the effectiveness of the new crown vaccine and detrimental to the sentiment of European stock markets.

The London FTSE 100 index closed at 6365 points, down 55 points, or 0.87 percent; the Frankfurt DAX index closed at 13,133 points, down 5 points, or 0.04 percent; the Paris CAC index rose for the third day, closing at 5,483 points, up 11 points, an increase of 0.21%.