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Gold Ends Q1 with Worst Losses Since 2016

M. Ali 1 April, 2021 1:56 am Commodities, Market Update

Gold futures rose on Wednesday, supported by the decline of the U.S. Dollar (USD) across the board.

Nevertheless, the yellow metal futures continue to be impacted by the strong USD and high Treasury bond yields, which reflected negatively on gold’s performance during the first quarter (Q1) of the year.

Gold futures for April delivery rose on Friday by $29.90, or 1.8%, to close at $1,713.80 per ounce.

The most active contracts have registered a mild monthly decline of about 0.9%, however, gold futures registered a decline of 10% on a quarterly basis, making it the worst-performing quarter for the yellow metal since Q4 of 2016.

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