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Gold price back above $1,900, but still on pace for monthly drop | |
admin | |
2022-04-29 | |
发布年 | 2022 |
语种 | 英语 |
国家 | 国际 |
领域 | 地球科学 |
正文(英文) | Gold reversed course and climbed back above the $1,900/oz level on Friday, as the precious metal was boosted by a pullback in the dollar. Spot gold gained 0.8% to $1,910.26/oz by 11:00 a.m. ET, having dropped to a two-month low earlier this week. US gold futures were up by 1.2%, trading at $1,915.30/oz on the Comex. [Click here for an interactive chart of gold prices] “The dollar strengthening early in the week was a major driver for the gold weakness, and as we’ve seen the dollar reverse … that is clearly lending some support to gold,” Saxo Bank analyst Ole Hansen told Reuters, adding that bullion is also seeing fresh momentum from a technical buying perspective. Also lifting the safe-haven metal’s appeal, data showed the US economy unexpectedly contracted in the first quarter amid a resurgence in covid-19 cases and drop in pandemic relief from the government. The dollar index slipped 0.6% after touching a 20-year high on Thursday, making gold cheaper for holders of other currencies. Still, bullion is headed for a monthly drop with aggressive interest rate hikes by the US Federal Reserve looming. Markets focus is now on the US central bank’s two-day policy meeting next week, when officials are expected to increase the target policy rate by half a percentage point. Fed officials have aligned around plans to accelerate the pace of interest rate hikes this year, but remain split over what could be the make-or-break decision of where to stop to avoid dragging the economy into recession.
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来源平台 | Minging.com |
文献类型 | 新闻 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/348473 |
专题 | 地球科学 |
推荐引用方式 GB/T 7714 | admin. Gold price back above $1,900, but still on pace for monthly drop. 2022. |
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