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March 30, 2021

GOLD Traded Carefully

 Gold prices fell lower on Monday amid a strengthening US dollar and global stock markets supported by rising economic prospects.


At the start of the European session, spot gold traded around $ 1,726 an ounce, having declined 0.7% last week and was on track to post losses for the third month in a row.


Ahead of the close of trading for March, gold trading is expected to continue to be risky with the uncertainties taking place in the market.



While the market is now burdened by concerns over a third wave of coronaviruses leading to extended closures in Europe, optimism over a stronger recovery in the United States has led to gold holdings continuing to be released.


U.S. President Joe Biden is expected to unveil new plans on infrastructure that will cost up to $ 3 trillion on Wednesday to support a stronger recovery.


Meanwhile, the precious metal gold also came under pressure from the 10 -year US treasury yield which remained high despite a slight decline.