Gold prices fell to a minimum of more than 2 months this Wednesday, since the rebound of the dollar because the expectations of a faster rise in interest rates in the United States reduced the attractiveness of the ingot.
At the close of the markets, the gold in cash fell about 0.8% to $ 1,890,29 per ounce, after having fallen to $ 1,881.45, its minimum since February 24. Gold futures in the United States lost 0.8% to 1,888.7 dollars.
“There is a flight to security at this time from other currencies to the US dollar (…) Gold will have difficulty recovering between now and the Fed meeting,” said Bob Haberkron, senior market strata of Rjo Futures Market.
The dollar index, which measures the performance of the green ticket in front of a 6 -currency basket, climbed to a maximum not seen since January 2017, driven by the perspective of aggressive increases in the United States and the refuge flows fueled by the deceleration of growth in China and Europe.
Read also: Weight progresses after touching worse level in 6 weeks; Bag follows
The Fed is expected to increase the interest rates 50 basic points at its meeting from May 3 to 4.
The rise in rates in the United States raises the opportunity cost of maintaining gold, which does not pay interest, while driving the dollar, currency in which it is quoted. The green ticket is also considered an asset of rival gold refuge during economic and political crises.
“We see that there are few agents wanting to buy gold,” said TD Securities analysts in a note.
Among other precious metals, cash in cash lost 0.4% to $ 23.40, the ounce, after touching an apartment from February 15. The platinum dropped 0.3% to $ 918.04 and the paladium rose 1.2% to 2,211.88 dollars.
With Reuters information.
Follow us on Google News to always keep you informed
