{"id":10998,"date":"2022-04-28T05:40:53","date_gmt":"2022-04-28T05:40:53","guid":{"rendered":"https:\/\/www.xtreamforex.com\/?p=10998"},"modified":"2022-04-28T07:26:15","modified_gmt":"2022-04-28T07:26:15","slug":"gold-is-near-a-two-month-low-due-to-a-stronger-dollar-the-possibility","status":"publish","type":"post","link":"https:\/\/www.xtrememarkets.com\/US\/gold-is-near-a-two-month-low-due-to-a-stronger-dollar-the-possibility\/","title":{"rendered":"Gold is near a two-month low due to a stronger dollar &#038; the possibility of a rate hike in U.S.A"},"content":{"rendered":"<h1>Gold is near a two-month low due to a stronger dollar &amp; the possibility of a rate hike in U.S.A<\/h1>\n<p>&nbsp;<\/p>\n<p>In Asia on Thursday morning, gold was down, hitting a two-month low. The yellow metal&#8217;s demand was harmed by a rising dollar and the prospect of a rate hike in the United States weakened investor confidence in the safe-have asset. Gold futures were up 0.56 percent to $1,878.10 at 12:57 a.m. ET (4:57 a.m. GMT) after falling to its lowest level since February 24 earlier in the day. On Thursday, the dollar, which generally goes in the opposite direction to gold, rose to a five-year high of 103.28. If it continues to rise above 103.82, it will reach levels not seen since late 2002.<\/p>\n<p>Benchmark 10-year U.S. Treasury yields also rose, as investors awaited further information on the Fed&#8217;s &#8220;restrictive&#8221; stance to combat inflation. The Bank of Japan held its interest rate at -0.10 percent when it announced its policy decision earlier in the day, and the European Central Bank released its economic bulletin as well. With gold prices failing to rise despite Russia&#8217;s invasion of Ukraine on February 24 and rapid inflation, investors are likely to seek elsewhere, according to Lan, who added that China&#8217;s lockdowns in reaction to the recent COVID-19 breakouts had hampered demand.<br \/>\nAccording to the World Gold Council, global demand for gold increased to its highest level in over three years in the first quarter of 2022, driven by <a href=\"https:\/\/www.xtrememarkets.com\/US\/\"><strong>investors<\/strong><\/a> concerned about the Ukraine conflict and inflationary pressures. In other precious metals, silver fell 0.1 percent, platinum fell 0.4 percent to $914.17, while palladium increased 1.2 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold is near a two-month low due to a stronger dollar &amp; the possibility of a rate hike in U.S.A &nbsp; In Asia on Thursday morning, gold was down, hitting a two-month low. The yellow metal&#8217;s demand was harmed by a rising dollar and the prospect of a rate hike in the United States weakened<\/p>\n... <a href=\"https:\/\/www.xtrememarkets.com\/US\/gold-is-near-a-two-month-low-due-to-a-stronger-dollar-the-possibility\/\">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":[47,267,182,168,24,263,293,201],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v16.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Gold is near a two-month low due to a stronger dollar &amp; the possibility<\/title>\r\n<meta name=\"description\" content=\"In Asia on Thursday morning, gold was down, hitting a two-month low. 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