1. The U.S. dollar eased on Monday after posting its biggest gain in nearly six months on Friday when robust jobs data boosted bets for higher interest rates. The dollar also got support from a rout in AI stocks at the end of last week that drove investors to seek safe-haven assets, but market sentiment generally improved on Monday. The dollar index, which measures the currency against six major rivals, dipped 0.3% to 101.87. It was still close to levels hit on Friday when the dollar rallied almost 0.8% as stronger-than-expected data showed jobs growth accelerated in October while the unemployment rate fell. “We think the dollar rally requires the risk-off mood to persist this week. Otherwise, there is some moderate correction risk, as Friday’s move looked a bit too stretched relative to short-term market drivers,” Francesco Pesole, FX strategist at ING, said.
2. Gas prices just fell for a sixth straight week. Regular gas averaged $4.01 a gallon on Monday, according to AAA. That’s down about 10% from its latest peak of nearly $4.48 in late September. Wholesale prices have fallen about twice as fast. Gasoline futures slid about 21% from Sept. 18 through Friday’s close, as oil dropped about 20% from its April high. Pump prices have typically run about $1 per gallon above futures prices. Based on Friday’s close, that points to roughly $3.70 to $3.80 a gallon, or another 20 to 30 cents of relief. “That’ll be a 3-handle by mid-next week,” market analyst Mike Zaccardi posted on Nov. 6, when the average stood at $4.07.
3. Consumer Price Index data for October showed that inflation remains elevated, as costs rose across a wide range of essential goods and services, including food, rent, and medical care. The Consumer Price Index rose 0.4% in October from a month earlier, slightly higher than the 0.3% economists were expecting but below September’s 0.6% gain. “Core” inflation, which strips out volatile food and energy prices, rose 0.3%, coming in ahead of the 0.2% economists were expecting to match September’s level. October’s report didn’t include annual inflation figures because the Bureau of Labor Statistics was unable to publish full October 2025 data due to the government shutdown. But many economists estimate that inflation accelerated on a year-over-year basis. The food index increased 0.5% in October, as the food at home index rose 0.4% and the food away from home index increased 0.5%. Despite lower gas prices in recent days, the index for energy increased 0.7% over the month following a 5.2% increase in September.
4. More Americans applied for unemployment benefits last week, but jobless claims remain at historically low levels, layoffs are rare and most workers enjoy unusual job security. The Labor Department reported Thursday that jobless claims ticked up to 200,000 last week from a revised 191,000 the week before, coming in higher than the 195,000 economists had forecast. The four-week average of claims, which smooths out week-to-week volatility, was unchanged at 195,250.
5. Oil prices sagged on Friday, set for a second straight weekly decline, as signs of a growing global supply surplus weighed on the market and Washington’s focus on blockading Iran while ramping up other economic pressures allayed fears of renewed hostilities in the nine-month war. Brent futures were down 5 cents, or 0.05%, to $95.77 a barrel. U.S. West Texas Intermediate futures fell 17 cents, or 0.19%, to $88.57 a barrel. For the week, Brent and WTI were both on track for a drop of around 2%. The benchmarks fell 16% and 13%, respectively, last week.
6. EUR/USD trades at 1.1064, keeping a bearish near-term bias as spot remains clearly below the 20-day exponential moving average at 1.1170. The pair continues to grind lower after failing to reclaim that EMA, while the Relative Strength Index at 35.7 stays below the midline but off oversold territory, hinting at persistent downside pressure with only limited signs of exhaustion. On the topside, the 20-day EMA at 1.1170 is the first meaningful resistance, and a daily close above this barrier would be needed to ease the current bearish tone and open the door to a broader corrective recovery.
7. The Japanese Yen hesitates a few pips away from the key 160.00 level against the U.S. Dollar on Friday, weighed by a strong rebound in Treasury yields, which has prompted Japanese Prime Minister Sanae Takaichi to launch an intervention warning earlier in the day. The USD/JPY pair accelerated its decline this week, as Federal Reserve speakers opened the door for a jumbo rate hike in December, as inflation data released on Tuesday confirmed that price pressures keep escalating well above the 2% bank target for price stability.
U.S. mortgage rates declined for a fourth straight week, boosting home-purchase applications by the most since mid-April and giving a tiny spark to the deflated housing market. The contract rate on a 30-year fixed mortgage fell 9 basis points to 7.21% in the week ended Nov. 6, according to data released Wednesday. Borrowing costs have fallen nearly 30 basis points from an almost two-year high of 7.5% early last month, although they remain prohibitively high for many Americans. The gauge of loan applications for home purchases jumped 7.5%, marking just the second weekly increase since the end of August. The group’s refinance index rose 4.5%. The measure, which has advanced three straight weeks, is still near the lowest level since January 2025.
Markets are looking a bit disturbing, according to corporate America powerhouse Mellody Hobson. “It’s worrisome when you start to read articles that say the whole market will go the way of one IPO, specifically Anthropic,” Hobson, the co-CEO of Ariel Investments, said at the end of October. “That feels a little single-minded … when you consider a market of thousands of stocks of different industries and the like. So, it shows how many chips are in the middle of the table on this one trade. And we are not traders; we’re investors at Ariel. So, it goes against all of our natural inclinations.” Hobson explained. “I think the reason that it’s gotten frothy from our perspective is you have a lot of people chasing the same things. You also have this willingness to have this level of investment with no clear understanding of the payoff.” Market volatility has spiked in recent weeks due to the midterm elections; high-stakes Big Tech earnings prints, with mixed reports and heavy capital expenditure outlays; and the removal of Nvidia CEO Jensen Huang, triggering a sharp sell-off in hot sectors.
Volatility should be expected to remain high as investors will be closely watching for hints on the upcoming monetary policy direction. Many investors have redoubled their efforts to ensure that their portfolios are sufficiently diversified in the hope that they will be able to withstand corrections in multiple market sectors. Many of these investors have included physical precious metals as part of their diversification plans, given their long history as a hedge against both inflation and during times of economic turmoil. Remember, the key to profitability through the ownership of physical precious metals is to own the physical product and hold it for the long term. Always remember that you should never overextend your ability to maintain ownership of your precious metals over the long run.
Trading Department – Precious Metals International Ltd.
Friday to Friday Close (New York Closing Prices)
| Nov. 6, 2026 | Nov. 13, 2026 | Net Change | ||
| Gold | $4,060.20 | $3,885.60 | -174.60 | -4.30% |
| Silver | $51.89 | $49.15 | -2.74 | -5.28% |
| Platinum | $1,538.15 | $1,489.74 | -48.41 | -3.15% |
| Palladium | $1,022.79 | $1,009.40 | -13.39 | -1.31% |
| Dow | 51293.93 | 52347.85 | 1053.92 | 2.05% |
Previous Year Comparison
| Nov. 14, 2025 | Nov. 13, 2026 | Net Change | ||
| Gold | $4,099.38 | $3,885.60 | -213.78 | -5.21% |
| Silver | $51.16 | $49.15 | -2.01 | -3.93% |
| Platinum | $1,558.24 | $1,489.74 | -68.50 | -4.40% |
| Palladium | $1,410.32 | $1,009.40 | -400.92 | -28.43% |
| Dow | 47147.48 | 52347.85 | 5200.37 | 11.03% |
Here are your Short-Term Support and Resistance Levels for the upcoming week.
| Gold | Silver | |
| Support | 3912/3757/3640 | 49.16/46.41/44.24 |
| Resistance | 4184/4301/4455 | 54.07/56.24/58.99 |
| Platinum | Palladiumn | |
| Support | 1431/1328/1267 | 945/865/804 |
| Resistance | 1596/1675/1760 | 1086/1147/1227 |