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Old 03-03-2021, 18:58
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KostiaFM KostiaFM is offline
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Default Re: Daily Economic news by ForexMart

March 3. Gold falls in price on lower demand for «safe-haven» assets

On Wednesday, the price of gold declines against the background of investors leaving defensive assets in the light of the prospects for an improvement in the economic situation in the world. In addition, the high yield on US government bonds and the expensive dollar continue to put pressure on gold quotes.

The current price of the April futures for precious metals on the New York Comex exchange is $1,710.40 per troy ounce.

Analysts note that investors are more inclined to acquire risky assets amid general optimism in the markets regarding the prospects for the development of the global economy. In addition, the continuation of mass vaccinations in countries around the world gives hope for a speedy recovery.

Also, traders are waiting for additional support for the economy from the US authorities. As you remember, last Saturday the House of Representatives of the US Congress approved a stimulus package in the amount of 1.9 trillion dollars. Now the relevant bill has yet to be passed by the Senate and signed by President Joe Biden.
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