Market Trends: Gold, Oil, and Palm Oil Insights

November marked a rough month for gold, indicating persistent profit-taking since Donald Trump's election. Gold experienced a decline of 3% over the month, making it the most negative month in the past 14 months. The U.S. remains a major importer with significant imported amounts from China, highlighting the intertwined economies. Surendra Mehta from the India Bullion & Jewelers Association pointed out that recent Trump's statements have spooked investors, causing a temporary dip in confidence in gold. Support levels for gold are critical, with predictions suggesting drops could go as low as $2,524 under extreme conditions. Meanwhile, palm oil has shown strong performance, rebounding above 5,000 ringgit due to production issues in Malaysia and Indonesia. The discussions involved looking into the future and weighing investment options in metals and palm oil, with 2025 expected to be a bullish year for these commodities. As market conditions evolve, understanding the balance between demand and supply will be crucial for investors planning their strategies.