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Gold falls as dollar checks slide, Fed chief strengthens policy stance

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Wednesday gold price

The dollar recovered slightly, putting pressure on greenback prices

Bullion with solid Treasury yields and aggressive bullions

Inflation stance by the President of the US Federal Reserve System.

Spot gold fell 0.2% to $ 1,810.49 per ounce

0557GMT. US gold futures fell 0.6% to $ 1,808.10.

Gold has been integrated since the end of last week

The overall direction is down, heading towards about $ 1,750, Ilya said.

Spivak, a currency strategist for Daily FX. “When is the problem?

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Do you find fresh momentum to take us there? “Spibak said.

After three session slides, the dollar rose.

Reduces the attractiveness of gold to investors who own others

currency.

“Gold is very focused on interest rates and monetary outlook

Especially in the United States, “policy” and added the dollar.

The rally was not held.

Federal Reserve Chairman Jerome Powell pledged to the U.S. central government on Tuesday

Banks will ratchet as high interest rates as necessary to kill

The surge in inflation he said is

Economy.

Benchmark US 10-Year Government Bond Yield

Soared in previous session, damaging demand

Zero yield gold.

Fed sets benchmark policy rate

This year we are on track with three-quarter percentage points.

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At that point to increase it again with an increment of 0.5 percentage points

The next two meetings in June and July.

Considered an inflation hedge, but the bullion

Rising US short-term interest rates and bond yields.

Increase the opportunity cost to hold it.

SPDR Gold Trust, reflecting investor sentiment,

The world’s largest gold-backed exchange-traded fund

Tuesday’s holdings fell 0.4% from 1,053.28 to 1,049.21 tonnes.

Monday tons – 9 consecutive days of decline.

Spot Silver fell 0.2% to $ 21.57 per ounce,

Platinum up 0.2% to $ 953.32 and Palladium up 0.2% to $ 953.32

It was down 0.5% to $ 2,041.87.

(Report by Bharat Govind Gautam in Bangalore; Editor

Subhranshu Sahu)

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Gold falls as dollar checks slide, Fed chief strengthens policy stance

Source link Gold falls as dollar checks slide, Fed chief strengthens policy stance

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