Main Quotes Calendar Forum
flag

FX.co ★ Gold Edges Higher Amid Ukraine Woes

back back next
typeContent_19130:::2022-04-04T11:40:00

Gold Edges Higher Amid Ukraine Woes

Gold edged higher on Monday as worries over the deepening crisis in Ukraine offset pressure from a stronger U.S. dollar and higher Treasury yields.

Spot gold edged up 0.2 percent to $1,929.63 a barrel, while U.S. gold futures were up 0.3 percent at $1,930.

Geopolitical tensions continue to remain on investors' radar, with the EU discussing a new round of sanctions on Russia in response to multiple reports that Russian troops executed unarmed civilians in Ukrainian towns.

The new restrictions could target individuals, but could also include a ban on Russian ships using EU ports.

The dollar and Treasury yields advanced as a solid U.S. payrolls report raised expectations of aggressive rate hikes.

In economic releases, reports on service sector activity, the U.S. trade deficit and factory orders are likely to attract attention this week along with the minutes of the latest Federal Reserve meeting.

The Federal Open Market Committee will release the minutes from its March meeting on Wednesday.

New York Fed President John Williams on Saturday said a "sequence of steps" could get interest rates back to more normal levels.

San Francisco Fed President Mary Daly said in an interview published Sunday that rising inflation and a tight labor market strengthen the case for a half-point hike in May 2022.

Other Fed policymakers including Fed Governor Lael Brainard, Philadelphia Fed President Patrick Harker, St. Louis Fed's James Bullard, Atlanta Fed's Raphael Bostic and Chicago Fed's Charles Evans will speak at separate events throughout the week.

Share this article:
back back next
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...