© Reuters. Gold: the safe haven of new bern
At the end of the first auction of the day on the reference market of London, the ounce of gold stood at 1.309,3 $ (- 5,7 dollars compared to an auction yesterday afternoon), and 1.94,1 € 4,5€).
And yet, the long rates in the u.s. continue to relax : after you have overwhelmed the 3% on the 24 and 25 April last, the performance of the T-Note federal to ten years declined almost continuously from one day to the other : he came back this afternoon to 2.93 per cent. It is a priori support for the yellow metal, which typically invokes more interest in the eyes of investors when the gap between its performance (0%, by definition) and that of bond products is reduced.
However, the u.s. dollar, the currency in which the bulk of the trading of gold is denominated, has regained color. Against the euro, the greenback has returned 2.6% over a rolling months. Mechanically, the price of an ounce tends to decline as well.
Note, however, that the mass of the ingots forming the consideration for the ETF us SPDR Gold Shares has decreased from 180 kilograms compared to the previous day, to 865,6 tons. The evolution of the stock allows you to get an idea of the appetite of investors for gold.
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