Business & Investment

Gold prices are under pressure as stocks rise after Easter

On Monday morning after Easter, US stocks probably fell after gold futures fell slightly, yields rose, and the Good Friday report, which nearly closed the market, showed seasonally adjusted 916,000 jobs in March. It fell short of a bullish appetite for Heaven Metal. Mark the highest profit since August..

European markets were closed in compliance with Easter Monday, and US markets that were closed for Good Friday Bright reaction Focusing on precious metal demand in Friday’s work report.

Most active June gold contract
GCM21,
-0.02%

After a 0.8% rise in bullion, it traded at $ 1,724.10 an ounce on Comex and fell $ 4.30 (0.3%). Thursdayy, The last reconciliation of the week with shortened holidays pushed precious metals back to psychologically significant levels above $ 1,700.

However, some commodity experts are concerned that the prevalence of yellow metal is declining as yields rise and provide evidence that the outlook for the U.S. and global economies has improved from the COVID pandemic. ..

“Prices are still struggling to move above the simple moving averages of 50, 100 and 200 days in our daily timeframe,” said NaeemAslam, chief market analyst at AvaTrade.

“Unless prices exceed the 50-day SMA in the daily time frame, gold prices may continue to fall and no bullish price trends may be seen,” he wrote.

Meanwhile, silver in May
SIK21,
+ 0.59%

It didn’t change much at $ 24.94 an ounce on Monday.

Last week, in holiday abbreviation trading, gold recorded a weekly 0.2% decline on Thursday and silver fell 0.7%, based on the most active contracts.

Gold prices are under pressure as stocks rise after Easter

http://www.marketwatch.com/news/story.asp?guid=%7B21005575-02D4-D4B5-4572-D35E2CE92093%7D&siteid=rss&rss=1 Gold prices are under pressure as stocks rise after Easter

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