httpss://www.youtube.com/watch?v=sO9cBXRcBvo
Gold futures settled Thursday at their lowest levels in more than two weeks as strength in the dollar and a recent climb in major U.S. equities indexes to all-time highs sapped investor appetite for so-called haven investments.
Gold has reversed an early-week climb to trade over 1% below last Friday’s settlement.
“The broader trends have been a decline in bonds, rally in the dollar, and new highs in stocks; all of which are bearish influences for gold.”
“If inflation begins to show signs of accelerating faster than expected, and more importantly faster than the rise in interest rates, then gold would begin to become attractive again as ‘real interest rates’ would be poised to begin moving lower.”
The ICE U.S. Dollar Index DXY, -0.04% was up 0.4% at 100.40 as gold futures settled, after trimming some gains in the wake of Thursday’s jobless figures and trade data.
Over the medium-term, uncertainty for the dollar could keep gold underpinned.
April platinum PLJ7, -0.30% ended flat at $981.70 an ounce, while March palladium PAH7, +0.18% finished at $724.45 an ounce, down $11.65, or 1.6%. Among the exchange-traded funds, the SPDR Gold Trust GLD, -0.93% was down 0.9%, while the iShares Silver Trust SLV, -1.06% declined by 1.1%. The VanEck Vectors Gold Miners ETF GDX, -2.56% fell 2.3%. Read: Biggest gold mining scandal in history gets Hollywood treatment.