Near-term conditions appear negative for gold: Emirates NBD Research ...Qatar

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Near-term conditions appear negative for gold: Emirates NBD Research
Near-term conditions "appear negative" for gold, particularly in the context of the current move in financial markets away from assets with any potential risk characteristics, Emirates NBD Research has said in a report. Gold prices have failed to hold on to the gains catalysed by a jump in geopolitical risk premiums related to Russia’s invasion of Ukraine. After hitting a 2022 peak of $2,070/troy oz in early March, spot gold has now fallen to around $1,820/troy oz. Gold is dealing with several near-term headwinds. Most salient is the rise in US Treasury yields. Yields on the 10-year US Treasury have pushed up to near 3% in response to the Federal Reserve starting to normalise policy and pr

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