He price of the ounce of gold in euros records losses per second consecutive dayfalling this Thursday to minimum of two days.
The Xau/EUR closed Wednesday at 2,978.18, losing an important 1.39% daily.
Today Thursday the price of gold in euros has fallen from a maximum of the day reached in the Asian session at 3,013.62 to a minimum of two days at 2,942.45 In the European opening.
He XAU/EUR quote when writing about 2,958.60, losing 0.66% in the day.
From one year to this part, the price of gold in euros has risen 37.79%.
What factors have influenced the price of gold in recent hours?
- He US President Donald Trump published in Truth Social that he will announce a great commercial agreementthe first of many, with a large and very respected country on Thursday. The Republican said he will realize a great press conference ‘at 14.00 GMT in the Oval Office. The risk appetite has returned to the markets after the news, pushing to gold, safe refuge value, down.
- According to Sky News, Trump will announce that the United States and the United Kingdom have reached a general agreementtaking an important step towards a complete commercial agreement.
- Los Airports were closed in Moscow In the midst of a massive attack by Ukrainian drones before the three -day truce announced unilaterally by the Russian president, Vladimir Putin. In addition, Ukraine reported that Russia launched guided bombs almost three hours after the truce entered into force in the early hours of Thursday.
- The Israeli army announced that the main Yemen airport in the capital, Sanaa, which is controlled by the Hutis, had disabled. A member of the main political organ of Los Hutíes said that the response to Israel’s attacks is on their way. This keeps caution and limits gold losses as a safe refuge.
Oro FAQs
Gold has played a fundamental role in the history of mankind, since it has been widely used as a deposit of value and a half of exchange. At present, apart from its brightness and use for jewelry, precious metal is considered an active refuge, which means that it is considered a good investment in turbulent times. Gold is also considered a coverage against inflation and depreciation of currencies, since it does not depend on any specific issuer or government.
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central banks are the greatest gold holders. In their objective of supporting their currencies in turbulent times, central banks tend to diversify their reserves and buy gold to improve the perception of strength of the economy and currency. High gold reserves can be a source of trust for the solvency of a country. Central banks added 1,136 tons of gold worth 70,000 million to their reservations in 2022, according to data from the World Gold Council. It is the largest annual purchase since there are records. The central banks of emerging economies such as China, India and Türkiye are rapidly increasing their gold reserves.
Gold has a reverse correlation with the US dollar and US Treasury bonds, which are the main reserve and shelter assets. When the dollar depreciates, the price of gold tends to rise, which allows investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rebound in the stock market tends to weaken the price of gold, while mass sales in higher risk markets tend to favor precious metal.
The price of gold can move due to a wide range of factors. Geopolitical instability or fear of a deep recession can cause the price of gold to rise rapidly due to its condition of active refuge. As an asset without yield, the price of gold tends to rise when interest rates lower, while the money increases to the yellow metal. Even so, most movements depend on how the US dollar (USD) behaves, since the asset is quoted in dollars (Xau/USD). A strong dollar tends to keep the price of gold controlled, while a weakest dollar probably thrusts gold prices.
