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[size=36]Gold is falling with the strength of the dollar[/size]
Economie| 11:25 - 19/03/2021
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Follow-up - Mawazine News
Gold prices fell, during trading today, Friday, as the dollar held on to the gains it had made in the previous session against the background of a rise in the returns of the US Treasury.
Spot gold fell 0.2 percent to $ 1733.74 an ounce, by 05:51 GMT, after reaching a two-week high at $ 1755.25 on Thursday.
While US gold futures fell 0.1 percent to $ 1731.50 an ounce.
"The dollar is responding to higher returns just as it usually does, but it is also interacting with a stronger situation for the US economy, which appears to be improving at a faster pace," said Stephen Ince, chief global market strategist at Axi Financial Services.
He added, "If the economy gets stronger and there is still no inflation, then that is bad for gold."
The dollar index rebounded from its lowest level in two weeks, supported by higher returns that held close to the highest level in more than a year, reducing the attractiveness of the yellow metal, which does not yield a return.
As for other precious metals, palladium fell 1.2 percent to $ 2,650.19 an ounce, after rising 7.3 percent in the previous session, after the Russian company, Nornickel, the world's largest producer of the metal, lowered its production estimates, fueling supply concerns.
Gold prices fell, during trading today, Friday, as the dollar held on to the gains it had made in the previous session against the background of a rise in the returns of the US Treasury.
Spot gold fell 0.2 percent to $ 1733.74 an ounce, by 05:51 GMT, after reaching a two-week high at $ 1755.25 on Thursday.
While US gold futures fell 0.1 percent to $ 1731.50 an ounce.
"The dollar is responding to higher returns just as it usually does, but it is also interacting with a stronger situation for the US economy, which appears to be improving at a faster pace," said Stephen Ince, chief global market strategist at Axi Financial Services.
He added, "If the economy gets stronger and there is still no inflation, then that is bad for gold."
The dollar index rebounded from its lowest level in two weeks, supported by higher returns that held close to the highest level in more than a year, reducing the attractiveness of the yellow metal, which does not yield a return.
As for other precious metals, palladium fell 1.2 percent to $ 2,650.19 an ounce, after rising 7.3 percent in the previous session, after the Russian company, Nornickel, the world's largest producer of the metal, lowered its production estimates, fueling supply concerns.
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