| Pre. Settlement | N/A |
| Settlement date | 2021-04-28 |
| Open | 1,210.20 |
| Bid | 1,198.20 |
| Last price | 1,214.40 |
| Day's range | 1,196.30 - 1,210.20 |
| Volume | 770 |
| Ask | 1,199.50 |
- FX Empire
Daily Gold News: Tuesday, Mar. 2 – Gold Bouncing From $1,700
The gold futures contract lost 0.34% on Monday, as it fluctuated after breaking below the previous local low and a support level of $1,750. The markets will be waiting for Friday’s monthly jobs data release.
- Bloomberg
Gold Set for Fifth Straight Drop as Treasury Yields Resume Gains
(Bloomberg) -- Gold erased gains, heading for a fifth straight decline as benchmark U.S. Treasury yields advanced.The rate on 10-year Treasuries jumped three basis points, dimming the appeal of the metal, which doesn’t offer interest. The 30-year bond’s yield rose as much as 8 basis points. The moves follow a whipsawing of U.S. rates late last week.Bullion fell more than 6% in February, the biggest monthly drop in four years, as expectations for recovering economies boosted bond yields. Hedge funds and other large speculators have cut their bullish wagers on gold futures and options to the lowest since May 2019, while holdings in exchange-traded funds backed by the metal have slid.“Gold is continuing to follow the U.S. bond yield trends very closely,” Carsten Fritsch, an analyst at Commerzbank AG, said in a note.Some analysts say bullion’s allure as a hedge against inflation could eventually help shore up demand.Gold “has responded more to the combination of rising confidence and rising yields than to any fear of untoward inflationary pressures,” StoneX analyst Rhona O’Connell said in a note. Bullion still has medium-term tailwinds from “the massive amount of liquidity in the financial system, with trillions of dollars of capital looking for a home.”Spot gold fell 0.6% to $1,723.74 an ounce by 2:46 p.m. in New York. Futures for April delivery on the Comex fell 0.3% to settle at $1,723 an ounce. Silver and platinum also declined, while palladium climbed.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
- FX Empire
Gold Forecast – Expecting a Bottom in Gold this Week
I view this as an excellent long-term opportunity and believe we will look back at today’s prices as a gift.
