✏️The recovery of oil price last week continued to be a supportive factor for the metal market. But the rally in precious metal prices is still limited by the continuous increase in US government bond yields over the past week and has risen above 1.5%.
US inflation in November was just announced by the Labor Department over the weekend with data touching the highest level in nearly 40 years, overwhelming even the difficulties that the supply chain is facing.
The above developments are expected to continue to push the Fed to narrow its economic stimulus measures, and at the same time push the US Central Bank to accelerate the process of raising interest rates in the face of inflation concerns.
This week, the Fed will have an important policy meeting. Markets, including metals, will be closely watching the agency's signals for changes in USD interest rate policy.
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