Gold declines as dollar recovery efforts

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Gold prices fell on Tuesday in the United States

The dollar rebounded slightly after a slide in the previous session,

Weighing on the demand for greenback-priced bullion.

Spot gold fell 0.2% to 1,850.40 per ounce, as

0240 GMT, after rising to a high of $ 1,865.29 from May 9

On monday. US gold futures were flat at 1,848.20.

Safe shelter clawed back to her some of the dollars

Overnight damage. A stronger dollar makes bullion more expensive

For foreign buyers.

“The weak dollar has helped gold bounce back

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200-day average… and we are still not sure if there is a greenback

One less was seen, ”said Matt Simpson, senior market analyst at Citi Index.

Ether George, president of the Kansas City Federal Reserve Bank

On Monday, he said he hoped the US Federal Reserve would withdraw

The next step is to set interest rates at around 2% by August

Both supply and demand depend on how inflation is affected.

Bullion, seen at the time as a safe store of value

The economic crisis has become less attractive to investors

When the US interest rate is raised because there is nothing in it.

“Gold has sold out to my eyes and every day

Constructive for the close (Monday) above the 200 day average

Bull, ”Simpson said.

SPDR Gold Trust, the world’s largest gold-backed

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Holdings rose 0.44% to 1,068.07, the exchange-traded fund said.

1,063.43 tons on Friday to tons on Monday.

Benchmark US 10-year Treasury yields are simple, limited

Zero yield gold loss.

Spot Silver fell 0.3% to .7 21.71 an ounce, and

Platinum fell 1.3% to 946.00, while Palladium

0.1% to $ 1,994.50

Russia’s Nornickel cut its global forecast on Monday

Palladium market deficit due to low demand from 2022

The car industry in the midst of the Ukraine crisis and a slow recovery

Deficit to chip market.

(Report by Bharat Govinda Gautam in Bangalore; edited by

Sherry Jacob-Phillips and Rashmi Ich)



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