Home Stock Gold price decreased after 4 increased sessions

Gold price decreased after 4 increased sessions


Gold futures fell on Wednesday after announcing gains in the past four trading sessions, but some experts expect gold prices to rebound on questions about the state of the economy and stock market valuations. stock is still high.

Commodity investors can gather more detailed information on both prospects after the Federal Reserve announced accounts for the March policy meeting at 2pm Eastern Time, around half an hour. after the gold futures contract ends.

Market participants are looking for clues to the Fed’s stance on inflation and the possibility that the central bank could soon reduce its market-stimulating bond buying program as a first step to normalizing policy. currency.

Tuesday’s gold price marked the fourth consecutive gain, the longest such chain in about two months.

“The precious metal had a strong week start, moreover due to the weak dollar and making the lows,” said James Hatzigiannis, chief market strategist at Ploutus Capital Advisors.

However, “there is no definitive signal that the US closes are coming to an end, I believe there will be no interest rates on the precious metal,” he told MarketWatch, but if the economy shows signs flourishes, people will start to spend more, boosting their physical fitness. Golden Bridge.

“Some positives are growing: encouraging economic numbers from China and the US and we expect demand to grow soon,” Hatzigiannis said. Without signals that closes are about to end in China and the US, “gold will most likely just swing around this level and everything else is just noise.”

Gold June
GCM21,
-0.07%

GC00,
-0.07%

on the Comex was trading down $ 3.10, or 0.2%, at $ 1,739.90 / ounce on the Comex after rising 0.8% on Tuesday. Maybe silver
SIK21,
-0.07%

also decreased by nearly 7 cents, or 0.3%, to $ 25.16 / ounce.

Right now, gold is falling, partly due to a “lack of interest,” said Jeff Wright, chief investment officer at Wolfpack Capital. He said: “Running away and wasted wasteful US government spending could ruin the US dollar and boost gold but so far this has been only the theory, not the market reality of the US government,” he said. we”.

Meanwhile, some commodity experts believe that the move of gold could be limited if investors suspect that the stock market will continue to record gains.

Naeem Aslam, chief market analyst at AvaTrade, wrote: “The market players believe that a large portion of good news has been integrated into the stock market, and now is probably the time for investors. deflate. That would be conducive to investing in gold. “The inflation fears are real, and they are continuing to drive up gold prices,” Aslam said.

Rounding action on Comex copper Wednesday, May
HGK21,
-1.21%

down 1.2% to $ 4.07 / pound. July platinum
PLN21,

trading at 1,241.40 USD / ounce, up 0.05% less, while palladium for June
PAM21,
-1.79%

down 1.8% to 2,642 USD / ounce.

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