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Gold: towards a weekly loss

04/11/2022
Categories: Raw materials

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Today, the price of gold has changed little. As a result of the appreciation of the dollar and the Hawkish orientation of U.S. Federal Reserve policy, which clouded the outlook for non-productive ingot, the metal was heading for a second consecutive weekly decline.

Spot gold was down 0.6% for the week so far. But at 00:43 GMT, it rose 0.1% to $1,631.33 per ounce. Indeed, American gold futures rose 0.2% to $1,633.70. Since September 23, the Dollar Index was ready for its biggest weekly gain. The Fed raised interest rates by 75 basis points on Wednesday. Fed chairman Jerome Powell promising to “continue” his fight against inflation. Platinum fell 0.1% to $917.84, cash was flat at $19.46, and palladium was stable at $1,800.81.

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