Gold is showing additional proof of a rally toward all-time highs, one strategist says.
Crude oil prices (CL=F, BZ=F) continue to fluctuate after OPEC+ officials delayed its November meeting to Thursday, November 30. Meanwhile, gold prices (GC=F) tick higher as more central banks continue to buy the metal. Yahoo Finance's Ines Ferré reports on the price action rippling through commodity sectors. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Global stocks steadied on Tuesday, underpinned by the conviction among investors that the Federal Reserve will not raise rates again, which kept the dollar at three-month lows and supported gold above $2,000 an ounce. Traders will have to weigh up data this week on how the U.S. economy fared in the third quarter, along with a key read of consumer inflation and spending - both of which could be instrumental in setting expectations for the timing of the first rate cut. The spotlight this week will be on Thursday's U.S. October personal consumption expenditures report (PCE), which includes core PCE, said to be the Fed's preferred measure of inflation, and euro zone consumer inflation figures - giving further clarity on where prices and monetary policy are headed.