On Thursday, the yellow metal headed south in Asia due to the fact that recent economic data indicated an improved economic surge outlook and also put pressure on the safe-haven commodity…
Gold prices go down from 1-month maximum as risk sentiment gets back
On Tuesday, the yellow metal rebounded from a one-month maximum, breaking a three-day winning marathon due to the fact that risk aversion receded in financial markets.
On the Comex exchange, June delivery gold futures headed south by approximately 0.4% concluding the trading session at $1,323.55 a troy ounce, rebounding from what a day earlier had been its highest outcome since February 28.
Eventually, panic over the inversion of the bond yield curve in America that provoked a tumble in equities last Friday and resulted in purchasing of haven assets receded due to the fact that policymakers along with analysts had the temporary nature of the event downplayed.
The vast majority of experts are assured that the inversion should last a significant amount of time, even a quarter, and only in this case it could indicate a downtime, as some financial analysts pointed out.
On Monday, Chicago Fed chief Charles Evans told that he’s still assured that everything will be OK with the US economy. The statesman added that the yield inversion was probably flatter than normal because of lower trend surge as well as lower interest rates.
Now let’s have a closer look at other metals. As a matter of fact, silver futures headed south by about 0.5% ending up with $15.492 a troy ounce.
As for palladium futures, they went down by about 1.5% demonstrating an outcome of $1,520.90 an ounce. Besides this, platinum declined by almost 0.1% being worth $862.30.
As for base metal commodities, copper managed to tack on by approximately 0.1% trading at $2.859 a pound.
On Wednesday, gold was nearly intact, sticking with a four-month minimum because better-than-anticipated economic data from China kept global appetite for risky assets healthy and also tamed demand for havens…
On Tuesday, the yellow metal went down in Asia against the backdrop of more positive developments in the China-US trade negotiations…
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