Gold is restrained as a high dollar, stronger US Treasuries create a dim appeal

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Thursday’s gold price is

The rise in the US dollar and the rise in the Treasury yield weighed heavily

Greenback price bullion and metal outlook already

It was weakened by the Fed’s aggressive stance on inflation.

Spot gold was $ 1,811.56 per ounce, down 0.2%

0754GMT. US gold futures fell 0.4% to $ 1,809.50.

The daily closing price of gold is effectively hugging

Trend lines predicted from the March 2020 pandemic lows, and

Unstable spikes during the day on either side of that major trend line

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City Index’s lacking the belief that encourages sustainable movement

Senior market analyst Matt Simpson said.

Bullions seem to be primarily tracking daily movements

Recent Dollar and Benchmark US 10-Year Treasury Yields

Greenback’s 20-year high for the first few weeks boosts gold prices

It was the lowest in more than 3 months on Monday.

A stronger dollar makes gold unattractive to buyers

Holds other currencies.

Gold performance and outlook are also below

Fed’s aggressive monetary policy stance on rate hikes

As banks push to curb soaring inflation.

Due to rising US short-term interest rates and bond yields

Opportunity cost of holding bullion. This does not produce anything.

Jerome Powell, chairman of the Federal Reserve Board on Tuesday, said the United States

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Central banks will ratchet as high interest rates as necessary

Kill the inflation surge that he said threatened the Foundation

Of the economy.

“The flow of ETFs (Exchange Traded Funds) peaked on the 27th.

Since April, a net outflow has been seen as investors lost.

Trust in Yellow Metal … and Stock Market Rout

Some investors have their

From gold to cash, “Simpson said.

Spot Silver fell 0.4% per ounce to $ 21.31

Platinum fell 1.2% to $ 924.61 and palladium fell 1.2%.

It fell about 2% to $ 1,976.02.

(Report by Bharat Govind Gautam in Bangalore; Editor

Sherry Jacob-Phillips and Bradley Pellet)