Earnings close to 1% gold per week

Gold closed lower on Friday, cutting its gains on a weekly basis to a five-day high of 19-month highs at $ 2,043.30 an ounce.

“Gold has receded today as risk-taking resumed after Russian President Vladimir Putin said there were some positive changes in talks with Ukraine,” said Edward Moya, an OANDA analyst. “Concerns about economic growth, however, will not subside soon and the fall in gold is expected to be limited,” he said.

However, the precious metal reduced the losses in today’s meeting, after the news that the US and its international partners will proceed with the revocation of the trade regime of the “rather favorable state” for Russia, which will lead to the imposition of higher tariffs on Russian products.

“The rise in gold due to geopolitical risk appears to be waning rapidly,” said Stephen Innes Managing Partner of SPI Asset Management. However, the “unknown X this time is the long-term impact of the commodity price spike”, as sanctions against Russia could further disrupt the supply chain.

In this climate, the gold April delivery fell $ 15.40, or 0.8%, to $ 1,985 an ounce on Friday. During the week, gold strengthened by 0.9%, according to FactSet.

As for the other metals, the silver May delivery lost 10 cents, or 0.4 percent, to $ 26.16 an ounce, but rose 1.4 percent during the week.

The May contract for him copper slipped 0.6% to $ 4,626 an ounce, extending its 5-day losses to more than 6%. THE platinum April delivery lost 0.6% to $ 1,088.60 an ounce, losing about 2.5% in the week.

Finally, the palladium June delivery fell 4.2% to $ 2,796.80 an ounce, while in the week it lost more than 6%.