Trump's protectionist policies, particularly potential tariffs on Chinese goods, have prompted concerns about hitting demand, market watchers say. The bullish rebound in energy prices and overall tightness in the palm oil supply also boosted prices, he added. The Malaysia Palm Oil Council forecasts steady demand for palm oil in November, supported by upcoming holidays. Oil prices mounted a rally on Monday as concerns over the Russia-Ukraine intensified, but ran into stiff resistance from bearish investors. The precious metal has regained some ground after Donald Trump's U.S. presidential election victory prompted a surge in the greenback, suppressing gold demand.

Source: Wall Street Journal November 19, 2024 20:59 UTC