Gold and Commodities Draw Fresh Institutional Focus as 60/40 Confidence Weakens

The U.S. Senate Banking Committee has scheduled a November 19 hearing for President Donald Trump’s nominees to the Securities and Exchange Commission. The move comes as the administration faces a narrowing confirmation window before the current congressional session concludes in early January.

A hotter-than-expected October CPI print strengthened expectations for another Federal Reserve rate increase, lifting the dollar and front-end yields while pressuring gold and equity futures. Markets are also tracking Nvidia-related headlines and Thursday’s UK GDP release, with GBP traders watching for a meaningful deviation from expectations.

Natural gas retreated as traders weighed the latest EIA storage figures and tested nearby support. Oil markets remained choppy, with WTI mostly flat and Brent still trying to clear the $96.00 area as Middle East headlines shaped sentiment.