Following an initial wave of optimism fueled by the impressive performance of tech giant Apple and a robust jobs report, a subsequent retreat occurred in most high-risk assets due to persistent macroeconomic challenges. In the past fortnight, risk sentiments were dampened by underwhelming economic data from both the United States and China, alongside ongoing concerns surrounding the US banking sector. These factors weighed heavily on market confidence. Additionally, the US dollar experienced gains as investors sought safe-haven assets amid the US debt ceiling standoff, marking its most significant weekly increase since February.
Gold found stability after experiencing three consecutive sessions of losses, supported by a slight weakening of the dollar and concerns among investors regarding the US debt ceiling standoff, which has the potential to trigger fears of a global economic slowdown. In the past fortnight, the price of spot gold saw a modest increase of 0.1 per cent to reach USD 2,013.99 per ounce, recovering from its lowest level since May 5. US gold futures remained largely unchanged at USD 2,018.80.
Denne historien er fra May 22, 2023-utgaven av Dalal Street Investment Journal.
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Denne historien er fra May 22, 2023-utgaven av Dalal Street Investment Journal.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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