By Gina Lee
Investment.com – Gold fell on Monday morning in Asia as US Treasury yields rose and the dollar strengthened.
was down 0.38% at $ 1738.25 at 12:43 AM ET (4:43 AM GMT)
DailyFX strategist Margaret Yang told Reuters: “Stronger data than expected suggests inflation will rise faster than expected in the coming months, leading to real yields rising, putting pressure on gold. “.
Positive data from the US also shows that investors turn their backs on the yellow metal for a safe haven. The March release on Friday recorded the highest annual gain in nine and a half years. Other data will be released throughout the week, including data on Tuesday, the Fed on Wednesday, and data on Thursday as well.
The president of the US Federal Reserve said the US economy was at the “inflection point” in an interview on Sunday. Covid-19 infections.
Powell will also speak at the Economic Club of Washington on Wednesday.
“The Asia Pacific markets are expected to open higher, but they are trading lower this morning, increasing demand for safe assets and the dollar is winning that race, causing add pressure on gold, “Yang added.
The dollar, which usually moves inversely with gold, rises on Monday.
In other precious metals, silver decreased 0.4%, palladium decreased 0.3% and platinum decreased 0.6%.
Fusion Media or anyone associated with Fusion Media will not be liable in any way for loss or damage resulting from dependence on information including data, quotes, charts and buy / sell signals contained in the this site. Please be fully informed about the risks and costs associated with trading the financial markets, which is one of the riskiest investments possible.