Gold Prices Continue to Decline Due to Rising US Bond Yields
OREANDA-NEWS. Gold continued to fall again in price as the dollar strengthened. This was due to a rise in US Treasury bond yields.
On Tuesday, March 30, the spot price for a triple ounce by 13:20 was $1695.5 (-0.96%). During the trading session, the price of the precious metal reached its lowest level since March 9.
Financial expert Fawad Razaqzada of “ThinkMarkets” explained, that investors expect a strong recovery in the US economy. Positive forecasts are associated with an increase in vaccination, in addition, incentive measures lead to the fact, that bonds have reached highs in value. According to Razakzada, investors prefer to invest in risky stock markets, rather than in gold, according to Russian media “RBC”.
During this trading session, the price of palladium rose by 0.94% and reached $2,552.32 per ounce, during the previous session, the fall was 5.5%. Silver fell 0.89% to $24.45 an ounce. The price of platinum reached $1176.4 (+0.08%).