Business Maverick: Gold Steadies Near Two-Month Low as Havens Fall Out of Favor

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Belgique Dernières Nouvelles,Belgique Actualités

Gold steadied near the lowest level in more than two months as an uptick in the dollar and further signs of economic recovery pummeled demand for the haven asset.

at manufacturers rose more than forecast as factories continued to recover from pandemic-related disruptions.

“Gold may stay on the defensive near term,” said James Steel, chief precious metals analyst at HSBC Securities Inc. Prices around “$1,800 may be turning into a firmlevel. Much will depend on the U.S. dollar, which may be getting support from higher yields.” In other metals, silver was steady, while platinum and palladium both advanced more than 1%. The Bloomberg Dollar Spot Index was flat after rising 0.3% on Wednesday.

 

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Belgique Dernières Nouvelles, Belgique Actualités