He gold continues its bullish streak this Tuesday, April 4, exceeds US$2,000 and reaches its maximum value in the last year, while traders eagerly await the next decision from the Federal ReserveAfter the oil rise caused by the OPEC clouded the inflation outlook.
Gold climbs 2.7% to $2,037.95 per ounce, marking its maximum value since March 8, 2022round in which he scored a value of $2,043.30.
ingots they fell last monday behind the surprise cut in OPEC+ crude productionbut rallied when the dollar fell after the publication of weak US economic data.
Gold is considered a hedge against inflationbut raising interest rates to curb upward pressures on prices increases the opportunity cost of maintaining it.
“Short-term monetary policy will also depend on upcoming US economic data.like payroll. any hint of slowdown in trading activity could again support gold price“, declared Giovanni Staunovo, UBS analyst.
At the beginning of the round, gold quoted in sterling and euros traded near session lowspushed down by the rise in the pound sterling against the dollarwhich hit a new 10-month high, and the euro hit its highest level in two months.
US and euro zone bond yields rose, weighing on goldas investors once again focused on inflation and rate hikes by central banks, which raised rates six times in eight meetings in March.
Among other precious metals, the silver go up a 0.2% at $24.05 an ounce, the platinum win a 0.9% au$s994.14, while the palladium sum a 1% au$s1,474.20.
Source: Ambito
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