{"id":11087,"date":"2022-05-24T03:48:14","date_gmt":"2022-05-24T03:48:14","guid":{"rendered":"https:\/\/www.xtreamforex.com\/?p=11087"},"modified":"2022-05-24T03:48:14","modified_gmt":"2022-05-24T03:48:14","slug":"gold-prices-fall-as-the-dollar-tries-to-recover","status":"publish","type":"post","link":"https:\/\/www.xtrememarkets.com\/MU\/gold-prices-fall-as-the-dollar-tries-to-recover\/","title":{"rendered":"Gold prices fall as the dollar tries to recover"},"content":{"rendered":"<h1><strong>Gold prices fall as the dollar tries to recover<\/strong><\/h1>\n<p>Gold prices fell marginally on Tuesday as the dollar recovered slightly after a recent dip, impacting on demand for greenback-priced gold. After reaching to its highest level since May 9 of $1,865.29 on Monday, spot gold dipped 0.2 percent to $1,850.40 per ounce at 0240 GMT. Gold futures in the United States were unchanged at $1,848.20. The safe-haven dollar recovered some of its losses from the previous day. Bullion becomes more expensive for foreign customers when the currency strengthens.<\/p>\n<p>Bullion, which is seen as a safe haven during economic downturns, loses its appeal to investors when interest rates in the United States rise since it pays no interest. &#8220;Gold remains oversold in my opinion, and the daily closing (on Monday) above the 200-day average is bullish,&#8221; Simpson said. The world&#8217;s largest gold-backed exchange-traded fund, SPDR Gold Trust, reported a 0.44 percent increase in holdings to 1,068.07 tonnes on Monday, up from 1,063.43 tonnes on Friday.<\/p>\n<p>The yield on the benchmark 10-year Treasury note fell, reducing losses in zero-yield gold. <a href=\"https:\/\/www.xtrememarkets.com\/mu\/commodities-category\/\"><strong>Silver<\/strong><\/a> fell 0.3 percent to $21.71 per ounce, platinum fell 1.3 percent to $946.00, while palladium rose 0.1 percent to $1,994.50 per ounce. Due to weaker demand from the automotive industry throughout the Ukraine crisis and a gradual recovery of the chip business from a shortfall, Russia&#8217;s Nornickel cut its projection for the global palladium market deficit in 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices fall as the dollar tries to recover Gold prices fell marginally on Tuesday as the dollar recovered slightly after a recent dip, impacting on demand for greenback-priced gold. After reaching to its highest level since May 9 of $1,865.29 on Monday, spot gold dipped 0.2 percent to $1,850.40 per ounce at 0240 GMT.<\/p>\n... <a href=\"https:\/\/www.xtrememarkets.com\/MU\/gold-prices-fall-as-the-dollar-tries-to-recover\/\">continue reading<\/a>.","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[18],"tags":[38,39,265,272,297,157,159,52,22,66,201],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v16.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Gold prices fall as the dollar tries to recover | Xtream markets<\/title>\r\n<meta name=\"description\" content=\"Gold prices fell &amp; Bullion less appealed as the dollar recovered slightly after a recent dip, impacting on demand for greenback-priced gold.\" \/>\r\n<link rel=\"canonical\" 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