The Magazine for Asian Investors
Gold futures closed higher on Monday (April 4). Gold remains in demand due to global uncertainties. Lockdowns in China, historically high inflation, and also the war in Ukraine remain uncertain factors.
- The gold futures were up $10.3, or 0.54%, at $1,934 an ounce.
- Silver was down 6.4 cents, or 0.26%, at $24.59 per ounce.
- The platinum contract was up $2.4, or 0.24%, at $991 an ounce.
- The palladium futures were up 7.50, or 0.33%, at $2,275 per ounce.
Further escalations in Ukraine are becoming more likely after Ukrainian authorities found dozens of bodies northwest of the Ukrainian capital Kiev. The images have caused great horror among the Western population, although no one can confirm the authenticity of the images.
U.S. President Joe Biden, in the meantime, called for the collection of evidence to put Russian President Vladimir Putin on trial as a war criminal. Just last week, he signed an executive order that uses the Cold War-era Defense Production Act to secure supplies of critical metals. Among them are battery metals, which are important to the U.S. Democratic agenda.
Ukrainian President Volodymyr Zelensky said the incident affected yesterday’s peace talks between Russia and Ukraine. He said the atrocities that happened were war crimes and genocide.
Meanwhile, the U.S. Commerce Department reports that new orders at U.S. factories fell 0.5% in February, with factory orders weighed down by raw material shortages and higher business spending on services.
Investors are looking ahead to the minutes of the March meeting of the U.S. Federal Reserve (Fed), which will be released on Wednesday.
The Spot Market is Open
Tuesday, April 5, 2022