Connect with us

Hi, what are you looking for?

Commodities & Futures

Gold Down Over Strengthening Dollar

Commodities1 hour ago (Mar 10, 2021 12:01AM ET)

(C) Reuters.

By Gina Lee – Gold was down on Wednesday morning in Asia. U.S. yields stabilized and a stronger dollar turned investors away from the yellow metal.

Gold futures were down 0.31% at $1,711.55 by 11:58 PM ET (4:58AM GMT), but remained above the $1,700 mark. The dollar, which usually moves inversely to gold, was up on Wednesday.

U.S. Treasury yields stabilized on Wednesday after their drop overnight. On the central bank front, the European Central Bank will hand down its monetary policy on Thursday.

Meanwhile, the U.S. House of Representatives voted to take up a $1.9 trillion stimulus package bill on Tuesday. With the Senate already passing the bill earlier in the week, the vote enables the House of Representatives to consider the bill on Wednesday, with President Joe Biden expected to sign it into law as soon as this week.

Adding to optimism about the global economic recovery from COVID-19, the Organization for Economic Cooperation and Development’s interim economic outlook predicted that the world economy is set to rebound in 2021 with 5.6% growth and expand 4.0% in 2022.

In other precious metals, the global platinum market will be roughly balanced in 2021 after a record undersupply of almost a million ounces in 2020, but more deficits could be ahead as demand picks up, according to the World Platinum Investment Council. Platinum steadied at $1,169.19.

Silver edged up 0.2%, and palladium was little changed at $2,296.70.

Gold Down Over Strengthening Dollar

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like


Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt.


Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione.


Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum.


At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores.

Disclaimer: it's managers and its employees (collectively "The Company") do not make any guarantee or warranty about what is advertised or above. Information provided by this website is for research purposes only and should not be considered as personalized financial or health advice. Copyright © 2021 Buzz Clever. All Rights Reserved