, pub-9809009992858082, DIRECT, f08c47fec0942fa0

Gold eases on steady dollar; market focus on banking risks, pub-9809009992858082, DIRECT, f08c47fec0942fa0
Gold prices edged down on Monday as a steady US dollar made bullion less affordable for overseas buyers, while authorities attempted to assuage investor fears over a potential liquidity crisis in the global banking sector.


* Spot gold was down 0.1% at $1,975.76 per ounce, as of 0104 GMT. US gold futures fell 0.3% to $1,977.20.

* The dollar index edged up 0.1%.

* Calming nerves were reports that First Citizens BancShares Inc was in advanced talks to acquire Silicon Valley Bank.

* Recent stress in the banking sector and the possibility of a follow-on credit crunch brings the United States closer to recession, Minneapolis US Federal Reserve President Neel Kashkari said on Sunday.

* Markets are pricing in an almost 87% chance of the Fed standing pat on interest rates in its May meeting, according to the CME FedWatch tool. * While gold is considered a hedge against inflation and economic uncertainties, higher interest rates tend to discourage investment in non-yielding bullion.

* Shares of Deutsche Bank plunged on Friday amid concerns that regulators and central banks have yet to contain the worst shock to the banking sector since the 2008 global financial crisis.

* Physical gold dealers in India were forced to offer the steepest discounts in more than a year to lure buyers put off by a record surge in local prices last week, while the banking crisis fueled steady demand in top buyer China.

* Spot silver was flat at $23.22 per ounce, platinum fell 0.2% to $974.74 and palladium was 0.2% lower at $1,413.58.

Source link

Laisser un commentaire

Votre adresse e-mail ne sera pas publiée. Les champs obligatoires sont indiqués avec *