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Gold: second weekly price drop

16/02/2024
Source : ORISHAS FINANCE
Categories: Raw materials

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Ce vendredi, l' or s' est dirigé vers une deuxième baisse hebdomadaire consecutive. Traders are rethinking their expectations for lower interest rates

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Spot gold was stable at $2,003.40 per ounce, at 0427 GMT, and has lost over 1% for the week so far. U.S. gold futures were also stable at $2,015.30 per ounce. According to Jigar Trivedi, a senior analyst at Reliance Securities, “there is no war premium, gold ETF holdings are retiring, Fed officials have adopted a hawkish tone, the CPI has been higher, and with the dollar likely to be positive — there is no particular reason

to be long on gold.”

Spot platinum fell by 0.7% to $892.44/Oz, palladium fell by 1.5% to $938.55, while silver rose by 0.1% to $22.93.

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