Business News Asia
Gold and silver have today, Tuesday, a small weak phase. After the recent gains, a breather can still be seen as normal so far.
The gold price fell by 1.57% to $1795.40 in the evening in Asia.
The silver price lost 1.64% to $24.35.
Crude oil prices have weakened at the U.S. start of trading, at the same time, the U.S. dollar index has been able to gain in strength. Both factors are working against the gold bulls at the moment. A strong U.S. dollar makes gold less attractive for holders of other currencies, as gold is traded in U.S. dollars.
The small damper should not cause panic around gold and silver now. The fundamentals that provide for the debasement of the fiat currency units are still intact.
The S&P 500 took a hit right at the start of trading, falling 0.37%. Likewise, the Dow Jones has suffered a setback and starts with a minus of 258.45 basis points. Possibly the weak labor market figures last week have unsettled investors. Also, recently concern has arisen that the delta variant could spread further in the winter months and affect the recovery of the U.S. economy.
Positively, however, the NASDAQ could score a new high at the start of the U.S. trading week.