Wednesday , March 3 2021

Gold settles at $ 1211 per ounce



Gold settled on Thursday as the dollar rose following trouble in the UK exit agreement from the European Union, making the metal-limited demand from investors seeking cover from political fallout.
At 1057 GMT the spot price of gold was unchanged at $ 1211.21 an ounce.
Prices rose by 1 percent in the previous meeting.
Gold contracts in the US rose 0.1 percent to $ 1211.60 an ounce.
The dollar index jumped, making gold less attractive to the second currency journey, after the British exit agreement from the EU fell into chaos.
But part of the quest for safe haven has turned into gold, a store of traditional value in periods of political and economic uncertainty when stock markets plummet.
"We've seen some resignations from the British government," said Warren Peterson, an analyst at ING. "So uncertainty provides some support for gold prices in the medium term.
"We found very good support at $ 1,200, but we would have a hard time breaking out $ 1,250 in the near term."
Money rose 0.1 percent a week to $ 14.15 per ounce. The metal fell to its lowest level since January 21, 2016, reaching $ 13.85 at the previous session.
Platinum fell 0.6% to $ 8295.47, while palladium rose 0.5% to $ 1130.30 per ounce.


Source link