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CHIEF GLOBAL MARKET STRATEGIST
The Dow jumped 11.8% in November, posting its best one-month gain since January 1987. The S&P 500 and Nasdaq Composite surged by 10.8% and 11.8%, respectively
For the month of November, Brent gained 28%, its best month since a 95% jump in May from April’s lows.
For the month of November, the precious metal lost for the third consecutive week, dropping 6% in value month to date.
Crude oil plunged, largely due to growing concerns amongst oil traders on what the outcome of the OPEC+ meeting will be.
Gold futures lost about 1.3% to close at $1,1781.90/ounce, dropping as low as$1,770.65, a price not seen since June 22.
Currency traders' recent moves in the money market will continue to put the U.S dollar under pressure in the short term.
At the close of trading at the New York Stock Exchange, the Dow Jones Industrial Average surged by 1.55% to hit a new all-time high.
Crude oil prices hit their highest price levels since March at the second trading session of the week.
The U.S. Dollar Index, which monitors the greenback's strength against a basket of major currencies dropped 0.14% to trade at 92.263 points.
London's based oil contract Brent crude futures gained 1.72% to settle at $44.79 a barrel.
At about 6.11 am West African time, Gold futures lost about 0.39% to trade at $1866/ounce.
Oil prices slid downwards at the mid-week trading session due to fears for soft fuel demand.