Gold prices fell in early Thursday trading as US Treasury yields edged higher and risk appetite improved, with hopes of a peace deal between Russia and Ukraine gaining traction and the Trump administration hinting at another delay to the implementation of tariffs on Mexican and Canadian exports. A modest increase in risk appetite has been observed in financial markets, leading to slightly higher Treasury yields and, consequently, some gains for the US dollar. This weighed on the price of gold, which dropped to a 10-day low, falling below $2,900. However, geopolitical and economic uncertainty remains prevalent, and the US economy has shown signs of slowing. Against this backdrop, the possibility of gold reaching $3,000 in the near future cannot be ruled out, supported by continued safe-haven demand and a weaker US dollar.
Ricardo Evangelista – Senior Analyst, ActivTrades
Source: ActivTrader
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