Tue. Mar 28th, 2023

Fxtriangle | Market analysis | Managed trading

Fxtriangle will make Fx trading look easy.

Gold prices two weeks low

1 min read

Gold prices slipped on Tuesday to their lowest in additional than fortnight, weighed down by a firm U.S. dollar and Treasury yields as expectations of a swift economic turnaround grew with vaccination rates gaining traction.
Bullion, often sought as a secure store useful in times of economic turmoil, is sensitive to rising yields as they raise the chance cost of holding non-yielding gold.

Spot gold was down 0.3% at $1,706.86 per ounce by 0326 GMT. Earlier within the session, bullion touched $1,704, its lowest since March 12. U.S. gold futures were down 0.4% at $1,708 per ounce.

Silver fell 0.3% to $24.59 an oz and platinum shed 0.3% at $1,171.63. Palladium was up 0.1% at $2,530.06, having slid 5.5% in the previous session.

Longer-dated Treasury yields gained amid expectations that U.S. President Joe Biden’s infrastructure initiative could further bolster economic process .

Further pressuring gold, dollar climbed to a one-year high against the yen on Tuesday as investors fretted about the potential fallout from the collapse of a hedge fund, identified as Archegos Capital.

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.