Gold finished the week with losses of 0.6%

The positive reaction immediately shown by the stock markets pushed investors away from gold, leading the price of the precious metal to a significant drop today that finally brought the week closed in negative territory.

In particular, after yesterday’s rally, sellers easily prevailed today, with the price in the April contract of gold closing with losses of 2% or $ 38.7 to $ 1,887.6 an ounce.

Respectively, on a weekly basis, the April contract ended with a fall of 0.6%.

“The market is shrinking after yesterday’s surprise,” said Xaio Fu, chief commodity analyst at Bank of China International. raise Fed interest rates in March “.

Shortly after Russia’s attack on Ukraine on Thursday, the price of the precious metal rose more than 3% to $ 1,973.96 an ounce, before falling again below the $ 1,900 level and while on Friday rockets hit the Ukrainian capital city.

As Adam Koos, president of Libertas Wealth Management Group, puts it, “we actually had the opportunity to ‘buy the news… sell it in the invasion’ ‘in the precious metals market,” meaning that investors had discounted the development and pushed prices up. before it takes place.