The gold prices fall this Tuesday, March 14, pausing the strong comeback on Monday that was seen driven by the banking crisis in the United States, due to the dollar rally while the operators are positioned after knowing the data of inflationwhich could also influence the Federal Reserve’s interest rate strategy.
The futures of gold They were down 0.2%, or $3.40, at $1,912.95 an ounce. Spot gold loses $6.53 and sells for $1,907.17 an ounce.
gold prices they rose more than 2% in the two previous sessionsas investors sought cover after the failure of Silicon Valley Bank (SVB) spooked the market.
Find out more – I followed the price of the blue dollar, official, CCL and MEP in Argentina
Considered as a hedge against economic uncertainties, gold – which does not yield interest – becomes a more attractive bet in an environment of low interest rates.
Fitch Ratings, ANZ and Citi were some of the market players who raised their gold price outlook this weekas the SVB saga unfolded.
The Operators now forecast 31.4% chance that the Federal Reserve will keep rates in the current range.
Attention is now focused on the US Consumer Price Index (CPI), which showed a 6% monthly variation for February, less than the 6.4% registered in January. This consolidates the path of deceleration of the evolution of prices.
Among other precious metals, the silver spot falls 0.8% to $21.64 an ounce, the platinum loses 0.8%, to $987.95, after reaching a maximum of more than a month in the last session, and the palladium it gave up 0.9% to $1,460.38.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
