Gold prices stabilized on Tuesday as US bond yields rose to multi-year highs following the Federal Reserve’s decisive stance on inflation while escalating conflict between Russia and Ukraine boosted demand for the safe-haven metal.<\/p>\n\n\n\n
And the price of gold settled in spot transactions at the level of $ 1936.03 an ounce<\/p>\n\n\n\n
US gold futures rose 0.5% to $1,938.80 an ounce.<\/p>\n\n\n\n
US Federal Reserve Chairman Jerome Powell indicated that the central bank will raise interest rates more than expected if necessary to curb inflation, which has risen to very high levels.<\/p>\n\n\n\n
US 10-year bond yields jumped above 2.3 percent for the first time since May 2019.<\/p>\n\n\n\n
Market experts said strong moves in the US bond market increasingly indicated an imminent recession, while markets questioned the central bank’s plan to ensure a “smooth anchoring” of the economy as it raised interest rates to contain inflation.<\/p>\n\n\n\n
And what slowed the decline of gold was Ukraine’s statements that it would not heed Russia’s ultimatums, which demanded that it stop defending the besieged city of Mariupol.<\/p>\n\n\n\n
And the price of palladium, used in the auto industry, fell 0.4 percent to $ 2574.04 an ounce.<\/p>\n\n\n\n
The price of silver in spot transactions rose 0.5% to $ 25.33 an ounce and platinum increased 0.2 percent to $ 1039.46 an ounce.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices stabilized on Tuesday as US bond yields rose to multi-year highs following the Federal Reserve’s decisive stance on inflation while escalating conflict between Russia and Ukraine boosted demand for the safe-haven metal. And the price of gold settled in spot transactions at the level of $ 1936.03 an ounce US gold futures rose …<\/p>\n","protected":false},"author":9,"featured_media":61161,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[6874,7164,8496,6871],"class_list":["post-62452","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-gold","tag-powell","tag-tightening-monetary-policy","tag-usd"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/62452","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=62452"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/62452\/revisions"}],"predecessor-version":[{"id":62453,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/62452\/revisions\/62453"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/61161"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=62452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=62452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=62452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}