Commodity Market Analysis and Outlook - 20th November - 24th November, 2023

1. Investors found relief last week as the latest data indicated a gradual slowdown in the US economy, fueling hopes of a Fed pivot.

2. The US CPI data for October revealed a decrease in the headline inflation and the core CPI. Following the soft CPI figures, Fed swaps indicated almost zero odds of another hike, with the market pricing in a 50 basis-point rate cut by July.

3. US weekly jobless claims rose to the highest in nearly three months, suggesting signs of a softening labor market and easing economic momentum, aligning with the Fed’s recent warnings of a slowing economy.

4. COMEX Gold prices recorded the first weekly gain in three, while Silver rallied more than 6.5% in the previous week as Bleak economic data from the US fueled optimism th ...