Quote on Gold and Crude 11th November 2025 by Kaynat Chainwala, AVP Commodity Research, Kotak Securities
Below the Quote on Gold and Crude 11th November 2025 by Kaynat Chainwala, AVP Commodity Research, Kotak Securities
Spot gold surged nearly 3% on Monday to a two-week high of $4,116.7 per ounce, buoyed by expectations that the potential end of the U.S. government shutdown would restart economic data releases. The long-delayed economic data is likely to confirm a slowdown, increasing the odds of further Federal Reserve rate cuts. Markets now price in a 64% chance of a December cut and 77% in January. Support also came from continued strong central bank and investment demand. China’s PBOC added to its reserves for the twelfth consecutive month in October to 74.09 million ounces, while global central banks purchased 220 tonnes in Q3, up 28% from Q2. Global gold ETFs also recorded inflows for the fifth consecutive month, adding 54.9 tonnes in October. Today, gold extended gains to $4,145/oz on rising bets of Fed rate cuts and Japan’s shift toward fiscal expansion. Besides, markets awaited a House vote, potentially as early as Wednesday, on the Senate-passed short-term government funding bill that would fund the government through January 30.
WTI crude gained momentum and rose to $60.5/bbl on Monday, supported by supply disruption concerns and optimism surrounding progress to end the longest U.S. government shutdown. Continued Ukrainian attacks on Russian energy infrastructure, disruptions in Lukoil’s operations ahead of sanctions effective November 21, and renewed threats of U.S. military action on Venezuela and Nigeria helped prices close higher. Today, oil prices edged lower to $59.8/bbl as market participants assess oversupply risks ahead of the release of monthly reports by OPEC and the International Energy Agency, with the IEA also set to publish its annual outlook this week for insights into the global oil market balance.
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