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Metals: drop in the price of gold

22/04/2024
Source : ORISHAS-FINANCE
Categories: Raw materials

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At the start of the week, gold prices fell slightly as rising US Treasury yields weighed on bullion valued in dollars.

Spot gold fell 0.3% to $2,381.36 per ounce at 00:54 GMT. US gold futures fell by 0.7% to $2,395.80 per ounce. Benchmark 10-year US Treasury yields rose slightly to 4.6475%, making yield-less bullion less attractive to investors

.

Copper, gold and other metals that have recorded strong gains this year will see another surge, fuelled by the robust outlook for Chinese demand and macroeconomic uncertainties. Spot silver fell 0.6% to $28.48 per ounce, platinum fell 0.1% to $930.72, while palladium was unchanged at $1,026.44.Silver could have the power to hit the $30 per ounce mark after rising 26% in March-April thanks to the record rise in gold and the strength of copper, even though analysts believe that the metal is ripe for technical

correction.
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