Small losses gold – Interrupted the 3-day uptrend

The price of gold closed in negative territory at the beginning of the last week of 2021, interrupting a series of three bullish sessions. However, he managed to keep his price above the psychological limit of $ 1,800 per ounce.

The price of gold was also pushed by the rise of the dollar, which today added 0.1%, while since the beginning of the year it has strengthened by almost 7% according to the ICE US Dollar.

“Gold could not break the $ 1,810 resistance, slipping around $ 1,805 / ounce as the dollar moved higher,” said Raffi Boyadjian, an analyst at XM.

Encouraging signs that the new pandemic wave will not derail economies are pushing stocks higher and boosting risk aversion, with the result that investors are not turning to safe havens like gold.

In this climate, the gold delivery in February It fell by $ 2.90 or 0.2% on Monday to reach the price of $ 1,808.80 per ounce, while intra-conference it moved in the range from $ 1,814.60 to 1,803.60.

In the year, the precious metal is losing 4.6% so far, according to FactSet data.

As for the other metals, the March delivery silver gained 0.2% or 4.9 cents to close at $ 22,989 per ounce. On an annual basis, it declines by about 13%.

THE March delivery copper strengthened by 7.95 cents or 1.8% to $ 4,472 per pound, while the January delivery contract for platinum it slipped $ 5.90, or 0.6%, on Monday to reach $ 969.20 an ounce.

Finally, the palladium delivery in March lost $ 10.40, or 0.5%, to close at $ 1,946.50 an ounce.