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Gold is getting cheaper as international tensions decrease


March, 11 2022
watermark Economic news

At the end of the week, gold shows a decline of more than 1% amid the weakening of geopolitical international tensions.


The current price of the April precious metal futures on the New York Comex exchange is $1981 per ounce. May silver futures fell to $26,117 per ounce.


The world stock and commodity markets today react mainly to the statement of Russian President Vladimir Putin that there are certain positive developments in negotiations with Ukraine. He stated this at today's meeting with his Belarusian counterpart Alexander Lukashenko. 


Traditionally, gold is used by investors as a safe haven asset, and on such positive news, many market participants began to switch to riskier instruments. Analysts note that the advantage of gold at the current level of foreign policy risks is rapidly decreasing.


At the same time, experts suggest that the sanctions imposed against Russia in the near future may further affect supplies, which will push commodity assets to growth.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.