Gold steady amid stronger US dollar, lower physical demand in Asia
The precious metal's upside seems challenged by factors including a stronger U.S. dollar and physical demand in Asia running behind expectations: expert
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Gold prices were steady in the early Asian session amid mixed developments.
DESPITE TRADERS' UNEASINESS OVER HIGHER INTEREST RATES, GOLD MAINTAINS GAINS
The precious metal's upside seems challenged by factors including a stronger U.S. dollar and physical demand in Asia running behind expectations, said SPI Asset Management's managing partner Stephen Innes.
Gold prices were steady in the early Asian session on Tuesday, April 12, 2022, amid mixed developments. (iStock / iStock)
However, gold is holding above the $1,920 per ounce to $1,950 per ounce neutral territory and is trading constructively as Ukraine tragedies unfold, he said.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GOL | NO DATA AVAILABLE | - | - | - |
"Buy the dip will hold for a while as geopolitical risk premium is minimal in my view," he added.
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Spot gold is little changed at $1,953.50 per ounce.