- Write by:
-
Friday, April 9, 2021 - 2:17:15 PM
-
769 Visit
-
Print
Mining News Pro - Spot gold prices have risen to a high of $US1759.70 ($2298.06) per ounce on Thursday, reaching its highest point in over a month.
The spot gold asking price is $US1755.20 per ounce at the time of writing.
This follows recent pressures over declining gold prices due to an increase in certainty around the COVID-19 pandemic.
The latest improvement follows last year’s bullish gold prices that were driven by the commodity’s status as a “safe-haven” investment during the pandemic.
In March, Fitch Solutions dampened its gold prices forecast due to the metal trending to a seven-month low.
The company lowered its expected $US1850 an ounce price to $US1780 an ounce for 2021, but predicated that inflation over March to April would likely pick up.
“Gold prices have trended lower since the start of 2021, amid rising US treasury yields and an increasingly positive outlook for the economic recovery,” the company stated.
“Investor sentiment towards gold has also continued to ease significantly in recent months following the rally recorded in (the first half of 2020) and the peak in prices reached in August last year.
“… We continue to hold a below-consensus view on gold prices, in 2021 and beyond.”
Fitch expects the precious metal’s price to trend lower beyond 2022 due to increases in bond yields and interest rates.
Western Australia’s Department of Mines, Industry Regulation and Safety (DMIRS) reported record sales for gold in 2020, reaching an all-time high of $17 billion in Western Australia, off the back of last year’s record average $2500 per ounce gold price.
Western Australia delivered a record $174 billion in resources sector sales last year.
Short Link:
https://www.miningnews.ir/En/News/612063
The four largest indigenous communities in Chile’s Atacama salt flat suspended dialogue with state-run copper giant ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Representatives from the Peñas Negras Indigenous community, in northwestern Argentina, clashed with heavily armed police ...
Newmont confirmed on Wednesday that two members of its workforce died this week at the Cerro Negro mine located in the ...
Chinese investors are snapping up stocks tied to high-flying metals from copper to gold, aiding an onshore market facing ...
Outflows from global physically backed gold exchange traded funds (ETFs) continued for a 10th month in March, but at a ...
i-80 Gold fell by over 11% at market open Tuesday following its announcement of a C$100 million ($74m) public offering ...
Australia’s Westgold Resources said on Monday it had agreed to acquire Toronto-listed Karora Resources in a ...
Chinese coal prices are likely to keep falling until the start of the peak summer season, suppressing imports of the ...
No comments have been posted yet ...