GOLD: Rising Stock Markets Weakened Safe-haven Demand
Hello everyone! Today i want to share some macro analysis with you!
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Gold prices plunged on Wednesday (April 15), partly due to profit-taking by investors. Additionally, rising stock markets weakened safe-haven demand, and rising US Treasury yields contributed to the decline.
Investors continued to assess the latest developments in the US and Iran, and their implications for the interest rate outlook. In early Asian trading on April 16, gold prices fluctuated upwards, reaching a high of around $4837.5, and are currently trading around $4820. $XAU/USD(XAUUSD.FOREX)$
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On Thursday (April 16) in Asian trading, despite ongoing tensions around the Strait of Hormuz, gold prices rose significantly as renewed efforts to resolve the Iran war through diplomatic means eased inflation concerns. $Gold - main 2606(GCmain)$
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