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Palladium, Platinum prices under pressure, gold slides below crucial level
Gold prices have continued to decline in the last six trading sessions. Last Monday, the prices were trading at $2000 per ounce and yesterday (on April 25, 2022) the gold prices saw a low of $1897 per ounce levels. So the prices were down nearly $1000 per ounce in the international gold prices and the Indian gold prices have come off as sharply.
Gold prices have continued to decline in the last six trading sessions. Last Monday, the prices were trading at $2000 per ounce and yesterday (on April 25, 2022) the gold prices saw a low of $1897 per ounce levels. So the prices were down nearly $1000 per ounce in the international gold prices and the Indian gold prices have come off as sharply.
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Palladium price is trading at 3-month lows, platinum prices are trading at 2-month lows, silver prices are trading at 8-week lows from the high of nearly $27 per ounce in the first week of March to nearly $23.5 per ounce in the first week of April and the markets do believe that the profit taking could continue. The street is awaiting the US Fed meeting in the next week and the expectation is that there could be faster, higher interest rate hikes.
The US dollar is trading at a 2-year high also seems to be putting pressure. US treasury yields also are jumping quite high, all of that seems to be putting pressure on gold prices.
Watch the accompanying video of CNBC-TV18’s Manisha Gupta for more details.
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First Published: Apr 26, 2022 1:35 PM IST
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