March 30, 2022 at 0:10 a.m.
New York Gold Contract It closed down to its lowest level in nearly two weeks on Tuesday (March 28) and fell for a third day in a row as investors sold gold as a safe haven asset. After reports of progress in Russia-Ukraine peace talks
COMEX Market Gold Contract (Commodity Exchange) Delivered in June It fell $26.7, or 1.37 percent, at $1,918 an ounce. This is the lowest closing level since March 16, 2022.
- Silver metal contract for delivery in May It was down 46 cents, or 1.83%, at $24.736 an ounce.
- The platinum contract will be delivered in April. It was down $15, or 1.51%, at $978.8 an ounce.
- Palladium contract delivered in June It fell $129.70, or 5.8%, to close at $2,112.70 an ounce.
Investors sell gold as a safe haven asset. After Mr. Mevlut Cavusoglu, Minister of Foreign Affairs of Turkey, said Peace talks between Russia and Ukraine were held in Istanbul yesterday. It has made the most progress since both sides started negotiations.
Russia’s Tass news agency, citing the Russian Defense Ministry, said: Russia will drastically reduce its military operations around Kiev, the Ukrainian capital. including Chernihiv Its purpose is to increase the trust between Russia and Ukraine. and to facilitate the next peace talks by both sides
The latest report states that Ukraine’s peace negotiator submitted a neutral status offer in talks with Russia yesterday. in exchange for the security guarantee of Ukraine The proposal stated that Ukraine will not enter into a military alliance with any country. And Ukraine will not allow foreigners to set up military bases in the country.
In addition, strong US economic data is another factor driving investors to reduce their holdings of safe-haven assets. By S&P CoreLogic Case Schiller, the survey revealed that The Nationwide Home Price Index in the United States jumped 19.2 percent in January from 18.9 percent in December, with home prices still being supported by homebuyer demand. and tight house stocks. Even though mortgage interest rates have rebounded
The Conference Board, an economic research institute The survey revealed that The Consumer Confidence Index rose to 107.2 in March, close to analysts’ expectations of 107.5 from 105.7 in February. driven by strong labor market trends including a slowdown in the number of COVID-19 cases in the United States.
interesting news
