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Gold at its lowest level in a week as demand plummeted
Gold fell to a one-week low on Monday as the US dollar recovered and demand for safe haven fell on bond markets.
The yield on US government bonds rose during today's session and hit its highest level since January 2014, helping to pull trades from the gold and commodity markets to bond markets that offer a return, unlike investing in gold.
Expectations are growing again that the Federal Reserve may accelerate the pace of raising interest rates as inflation rates stabilize and their expectations, which has led to a decline in demand for safe investment and increased demand for bond markets.
On the other hand, equity markets are supported by improved global corporate earnings despite geopolitical tensions, weakening gold trading as an alternative to equity markets.
Gold prices were trading at $ 1333.62 an ounce after hitting a low of $ 1331.74 per ounce and opened today's session at $ 1334.19 an ounce reaching $ 1335.34 an ounce.
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