Dollar Strength and Peace Negotiations Drive Global Decline in Gold and Oil Prices
November 24, 2025372 VuesTemps de lecture: 2 minutes
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Commodity markets experienced notable declines in gold and oil prices during trading on Monday, as the U.S. dollar hit its highest level in almost six months. This rise in the dollar coincided with indicators suggesting that the Federal Reserve may refrain from cutting interest rates in December, alongside cautious optimism surrounding peace negotiations between Russia and Ukraine.
Gold Prices Under Pressure
Gold continued to face slight losses, with spot prices dropping by 0.07%, reaching $4,051.48 per ounce at the time of writing, after hitting $4,040.33 in morning trading. December futures also fell by 0.5% to $4,058.90.
This decline aligns with the dollar's ascent, which reached its highest level since nearly six months ago at the end of last week, bolstered by data showing strong U.S. job growth in September with an increase of 119,000 jobs.
The strengthening dollar makes gold, priced in dollars, more expensive for holders of other currencies, thereby weighing on demand.
Recent economic data also indicated a slowdown in U.S. factory activity, hitting a four-month low in November due to tariffs and rising import costs.
Forecasts for an interest rate cut next month have dropped to 69% according to the “FedWatch” tool, down from 74% in the previous session, diminishing gold's appeal, which typically benefits from low interest rate environments.
Performance of Other Metals
Silver: up 0.23% to $50.15 per ounce
Platinum: up 1.96% to $1,545.11
Palladium: up 0.74% to $1,392.46
Oil Prices Decline Amid Peace Negotiation Optimism
In the energy sector, oil prices fell, continuing last week’s losses, as optimism grew regarding a potential peace agreement between Moscow and Kiev, which could pave the way for a return of significant Russian oil supplies to the markets.
Brent crude contracts dropped by 0.32% to $62.35 per barrel, while West Texas Intermediate fell by 0.4% to $57.84.
Both types of oil had declined by approximately 3% last week, reaching their lowest levels since October 21, amid concerns that lifting sanctions against Moscow—if a peace agreement is reached—could increase oil supply.
Market analyst Tony Sycamore from IG noted that selling pressures were driven by U.S. President Donald Trump's push for a “quick” peace agreement between Russia and Ukraine, which the markets view as a potential pathway for the return of Russian oil flows.
Although U.S. sanctions against Rosneft and Lukoil took effect on Friday, freezing about 48 million barrels of Russian oil, markets believe that the movement toward peace could outweigh the impact of these sanctions.
Gold Prices Under Pressure
Gold continued to face slight losses, with spot prices dropping by 0.07%, reaching $4,051.48 per ounce at the time of writing, after hitting $4,040.33 in morning trading. December futures also fell by 0.5% to $4,058.90.
This decline aligns with the dollar's ascent, which reached its highest level since nearly six months ago at the end of last week, bolstered by data showing strong U.S. job growth in September with an increase of 119,000 jobs.
The strengthening dollar makes gold, priced in dollars, more expensive for holders of other currencies, thereby weighing on demand.
Recent economic data also indicated a slowdown in U.S. factory activity, hitting a four-month low in November due to tariffs and rising import costs.
Forecasts for an interest rate cut next month have dropped to 69% according to the “FedWatch” tool, down from 74% in the previous session, diminishing gold's appeal, which typically benefits from low interest rate environments.
Performance of Other Metals
Silver: up 0.23% to $50.15 per ounce
Platinum: up 1.96% to $1,545.11
Palladium: up 0.74% to $1,392.46
Oil Prices Decline Amid Peace Negotiation Optimism
In the energy sector, oil prices fell, continuing last week’s losses, as optimism grew regarding a potential peace agreement between Moscow and Kiev, which could pave the way for a return of significant Russian oil supplies to the markets.
Brent crude contracts dropped by 0.32% to $62.35 per barrel, while West Texas Intermediate fell by 0.4% to $57.84.
Both types of oil had declined by approximately 3% last week, reaching their lowest levels since October 21, amid concerns that lifting sanctions against Moscow—if a peace agreement is reached—could increase oil supply.
Market analyst Tony Sycamore from IG noted that selling pressures were driven by U.S. President Donald Trump's push for a “quick” peace agreement between Russia and Ukraine, which the markets view as a potential pathway for the return of Russian oil flows.
Although U.S. sanctions against Rosneft and Lukoil took effect on Friday, freezing about 48 million barrels of Russian oil, markets believe that the movement toward peace could outweigh the impact of these sanctions.
