Mon. Dec 5th, 2022

Fxtriangle | Market analysis | Managed trading

Fxtriangle will make Fx trading look easy.

Gold prices caves in

1 min read

Gold bars

Gold prices eased on Monday as the rollout of a Covid-19 vaccine lifted riskier assets, overshadowing expectations of more U.S. fiscal and monetary stimulus.

Spot gold fell 0.2% to $1,836.08 per ounce by 0303 GMT, while U.S. gold futures eased 0.2% to $1,839.90.

“The euphoria around a Covid-19 vaccine will likely overshadow further easing from the Federal Reserve and a fiscal relief package in the near term,” said Howie Lee, an economist at OCBC Bank.

“But gold could rally in 2021 when the vaccine optimism dies down and investors’ focus returns to rising inflation expectations due to the large swathe of monetary and fiscal stimulus the U.S. economy still requires.”

The first shipments of Pfizer Inc and BioNTech SE’s approved coronavirus vaccine in the United States began on Sunday, raising hopes for a faster economic recovery and lifting Asian equities.

Gold, considered a hedge against inflation and currency debasement, has gained 21% so far this year on the back of near-zero interest rates and unprecedented global stimulus.

 

Leave a Reply

Forex trading and any instruments related to Foreign Exchange Market are Speculative and carry substantial risk of loss of either partial equity or the entire deposit amount. Leverage adds up to the risk, before considering to invest in this venture, you should first consider your financial position and may seek the help of an independent financial advisor. FXtriangle dis-recommends the usage of loan instruments to trade in this market as it can hamper financial position. Please do not invest the money that you cannot afford to lose. FXtriangle provides all its services throughout the Globe Excluding (Nigeria, British Virgin Island & the Islamic Republic of Iran) and also provides limited service in some jurisdictions where investment in Overseas markets / Fx Exchanges are prohibited by Law If you are not sure to contact us before using any of our services. FXtriangle acts as an Independent Corporate Financial Advisor and connects you to various overseas exchanges and cannot be held liable for any financial damage occurring through their side. All of our partnered institutions are regulated in various jurisdictions.FXtriangle conducts an independent background check before partnering with any institutions to fulfill your investment objectives smoothly. The usage of our Business name, Logo or any trademark in any financial forum, website, review website, complaint arena, Billboards without our written permission will attract lawsuits.