Marginal rise for gold recovering from a three-month low

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On positive ground, although with small profits, gold completed its trading, as the upward trend of the dollar and the returns of American securities was limited to a certain extent.

It is noted that the expensive dollar makes the precious metal less attractive to holders of other currencies, while increased bond yields offer greater investment stability.

Against this background, the June gold contract closed at $ 1,870 an ounce with a slight increase of 0.4%, having recovered from the low of the day when it was found up to $ 1,849 an ounce.

It is worth noting that $ 1,849 was the lowest point in the price of gold since the first ten days of February, long before the Russian invasion of Ukraine began.

It is recalled that yesterday gold had made a dip of about 2.5%.

As ActivTrades’s Ricardo Evangelista points out, the market focus is largely on tightening monetary policy by major central banks, and in particular the US Federal Reserve.

He adds that we have seen the yields on the 10-year bond exceed 3% and this is very detrimental to a non-performing asset, such as gold.

On the other metals, the May contract in silver also moved with small gains of 0.4% and finished at $ 22,665 an ounce.

The July contract was up 0.4% at $ 4,283 a pound, the platinum jumped 2.8% to close at $ 958.6 an ounce and the June palladium was up 1% at $ 2,238. ounce.


Source: Capital

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