Gold closed at two weeks high – Nickel at limit up (+ 15%)

Gold closed at its highest level since March 11 as the United States announced new sanctions against Russia for its invasion of Ukraine and investors watched the increasingly hawkish monetary policy statements of the Federal Reserve, which show will to raise interest rates.

“Yellow metal prices have clearly moved higher, as investment risk aversion remains high amid the Russo-Ukrainian war and its aftermath for the world,” said Jim Wyckoff, senior analyst at Kitco.com. of.

THE April delivery gold recorded an increase of $ 24.90 or 1.3%, closing at $ 1,962.20 per ounce, at the same time that the May silver gained 73 cents, or 2.9 percent, to $ 25.92 an ounce.

“Gold has responded, in part, to remarks by US Federal Reserve officials such as Minneapolis Fed Chairman Neel Kashkari, who, despite their hawkish tones, are meeting the need for a slower economic downturn in the fight against inflation.” , says Jeff Wright, head of investment at Wolfpack Capital.

At the same time, the United States announced new sanctions against Moscow, explicitly banning gold-related transactions with Russia’s central bank.

“The brutal reality of the war in Ukraine continues on the ground, but the sense that some sort of de-escalation is approaching, albeit temporarily, is beginning to emerge in the markets,” Ricardo Evangelista, a senior analyst at ActivTrades, said in a statement.

In the other metals, the copper May lost 0.7% to $ 4,743 a pound, with April platinum to earn 1%, to $ 1,031.20 per ounce, while the palladium June closed at $ 2,530.60 an ounce, with gains of about 0.5%.

Its price nickelmoreover, won the highest possible percentage under the new trading rules on the London Stock Exchange, on the basis of strong concerns about the offer due to the war in Ukraine.

Specifically, from the beginning to the end of the session, nickel gained 15%, to $ 37,325 per ton, a price at which it closed.

Russia produces 10% of the world’s nickel, which is used to make stainless steel and electric vehicle batteries.