Gold fell on Wednesday as the weakening dollar offset pressure from higher US bond yields as investors waited for the US Federal Reserve to raise interest rates during the pandemic.
Gold futures for April delivery fell 1.1% to $ 1,909.20 an ounce.
Gold is particularly sensitive to rising US interest rates and, consequently, higher yields on 10-year bonds, which increase the opportunity cost of retaining non-performing gold.
The dollar fell, giving some support to gold at the dollar price.
A fundamental change that could occur after the end of the crisis in Ukraine is the higher purchases of gold by central banks of countries that are not aligned with the West, as they seek to differentiate themselves from assets such as the euro and the dollar, said Bernard Dahdah , analyst at Natixis.
In other metals, silver remained stable at $ 24.86 per ounce, while platinum gained 2.2% to $ 1,007.57 an ounce.
Palladium gained 1.9% to $ 2,470.66, falling from a two-week low on Monday amid falling supply fears.
Source: Capital
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