Before spot gold and silver staged a late rally Tuesday to end up a fraction of a percent, they were weighed down by the dollar hitting a 14-month high against the euro, and what was seen as an easing of tensions in Ukraine: “Political turmoil in various parts of the world that made gold attractive earlier this year seems to have eased, and now economics is overriding geopolitical events,” according to a precious metals dealer quoted by Bloomberg. But a USA Gold market report, while acknowledging that “recent cease-fires in Ukraine and in Gaza have perhaps prompted the unwinding of some safe-haven positions,” reminds that “the underlying problems that have resulted in these global hotspots are a long-way from being resolved.”
See also:
GoldCore/TradePlacer: Macro factors dominating gold price as U.S. dollar outweighs physical demand & investor flows; Rising dollar weighing on gold & silver, but short-term reversal possible
Financial Times: India prepares for shining return of gold demand
Bullion Star/Reuters: German gold repatriation accelerating; Peru’s gold output will likely fall 20 percent this year – official
Jesse’s Café Américain/Seeking Alpha: Learning to love the Fed’s bubbles our only choice; Tracking the decline in risk aversion
Wall Street on Parade: Contagion – What the next Wall Street crisis will look like
CNBC/ValueWalk: American stock holdings at 18-year low; CNBC’s ratings drop to 21-year low