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Gold is soaring… How much was the price of an ounce?

Strong monthly gains were recorded by Wall Street in late November, while stock indexes shined, led by the Dow Jones Industrial Average, which rose 5.6% for the month, and closed at levels near 34,600 points.

Federal Reserve Chairman Jerome Powell’s statements about slowing the pace of interest rate hikes have played a major role in reassuring markets, especially the shares of tech giants, which control the market’s up-and-down movement. its great weight and the first impact on the movement of stock indexes.

For example, a rise in Apple’s stock yesterday’s session by about 5 percent would be enough to act as leverage for other stocks, especially since the company’s market value is $2.35 trillion.

Major tech companies have also offset some of the big losses they’ve suffered since the string of interest rate hikes began several months ago.

This was particularly reflected in the Nasdaq Composite Index, which is dominated by technology companies, which finished with a monthly gain of 4.3%.

As for the Standard & Poor’s 500 index, it closed with a monthly rise of 5.4%.

The rally in markets coincided with a drop in fear levels across the Volatility Index from the 26 level to the 20 level, far from the panic levels seen in October, which were around 35.

After a series of successive declines that reached 8 months, the price of gold soared, posting increases of more than 8% in November, and it was its best month in more than two years, and it is getting closer and closer to the $1,800-per-ounce levels.

As for the dollar index, it suffered a sharp monthly loss of more than 6 percent, the most violent in 12 years, accompanied by sharp increases in the euro and the yen against the dollar.

As for cryptocurrencies, Bitcoin managed to get back above the $17,000 levels again, but it always suffers from bankruptcy news affecting companies, and the market value of the cryptocurrency leader has reached $328 billion, but still loses about a trillion dollars compared to what it was a year ago.

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