Gold Down Over Strengthening Dollar By


© Reuters.

By Gina Lee – Gold was down on Wednesday morning in Asia. U.S. yields stabilized and a stronger turned investors away from the yellow metal.

were down 0.31% at $1,711.55 by 11:58 PM ET (4:58AM GMT), but remained above the $1,700 mark. The dollar, which usually moves inversely to gold, was up on Wednesday.

U.S. Treasury yields stabilized on Wednesday after their drop overnight. On the central bank front, the European Central Bank will hand down its on Thursday.

Meanwhile, the U.S. House of Representatives to take up a $1.9 trillion stimulus package bill on Tuesday. With the Senate already passing the bill earlier in the week, the vote enables the House of Representatives to consider the bill on Wednesday, with President Joe Biden expected to sign it into law as soon as this week.

Adding to optimism about the global economic recovery from COVID-19, the Organization for Economic Cooperation and Development’s interim economic outlook predicted that the world economy is set to rebound in 2021 with 5.6% growth and expand 4.0% in 2022.

In other precious metals, the global platinum market will be roughly balanced in 2021 after a record undersupply of almost a million ounces in 2020, but more deficits could be ahead as demand picks up, according to the World Platinum Investment Council. Platinum steadied at $1,169.19.

Silver edged up 0.2%, and palladium was little changed at $2,296.70.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Akshit chaudhary

Hey i am Akshit a wordpress developer and website developer. I am CEO of two websites till now and still going on for my future goals in digital marketing. I love to travel thats all i want to do. I am not sheep of 9 to 5 job. THATS ALL FOLKS.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button