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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Gold is getting cheaper as tensions in the Middle East decrease

April, 22 2024
watermark Economic news

On Monday, gold prices fell by more than 2% amid a decrease in geopolitical risks. Quotations of June gold contracts on the New York Comex exchange fell by 2.4%, reaching $2,350 per ounce.

  

The exchange of strikes between Israel and Iran has caused panic about a possible escalation of the conflict in the region. Nevertheless, the Iranian authorities took a restrained position, noting the absence of serious consequences of the Israeli attack and the need to avoid new strikes.


Analysts noted that this development has reduced the risk margin in the market. Market participants also expect new statistical data from the United States. In particular, data on the PCE price index will be published on Friday, which the Federal Reserve System pays special attention to when assessing inflation risks. 


Analysts assume that the indicator grew by 2.6% in March, after it was 2.5% in February.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.