Gold futures closed more than 1% higher on Wednesday (March 30), due to the depreciation of the dollar. In addition, the peace talks between Russia and Ukraine continue, but no agreement has yet been reached.
- The gold contract was up $21, or 1.09%, at $1,939 per ounce.
- Silver futures were up 37.7 cents, or 1.52%, at $25.113 an ounce.
- The platinum contract was up $22.4, or 2.29%, at $1,001.2 an ounce.
- The palladium futures rose $130.40, or 6.2 percent, at $2243.10 an ounce.
Gold contracts reacted positively to the depreciation of the dollar. The dollar index against the six major currencies in a basket of currencies fell 0.62% to 97.7930, with a weaker dollar making gold cheaper for investors holding other currencies.
Investors continue to buy gold as a safe haven. The back and forth in the peace talks between Ukraine and Russia is causing great confusion among the population. Investors should therefore keep a clear head and continue their strategy cautiously.
Investors are also turning their attention to the U.S. labor market figures for March, which will be announced on Friday. Analysts predicted that the number of jobs in March will increase by 460,000. The unemployment rate is expected to fall to 3.7% in March.
The Spot Market is Open
Thursday, March 31, 2022
| Metals Updated at | USD Bid/Ask | Ounce Change | Low/High |
| Gold 11.20 | 1,924.70 1,925.70 | -8.20 -0.42% | 1,923.60 1,935.10 |
| Silver 11.20 | 24.58 24.67 | -0.28 -1.11% | 24.56 24.98 |
| Platinum 11.20 | 979.00 989.00 | -11.00 -1.11% | 978.00 1,003.00 |
| Palladium 11.00 | 2,185.00 2,335.00 | -18.00 -0.82% | 2,174.00 2,358.00 |
| Rhodium 05.00 | 18,300.00 20,300.00 | 0.00 0.00% | 18,300.00 20,300.00 |