Monday, January 17

Gold ended its worst year since 2015 due to lower interest in safe haven assets

While, US gold futures were up 0.5% at $ 1,823.00 an ounce.

Bullion prices fell more than 4% in 2021 after climbing 48% over the previous two years, as the global economic recovery reduced demand for the metal as a safe haven.

Looking ahead to 2022, while concerns about the effect of the omicron variant could support gold prices, rising U.S. bond yields could dampen the metal’s appeal, said Han Tan, chief market analyst at Exinity.

At the same time, “gold could see a number of catalysts for substantial gains next year, be it Fed policy blunder, stubbornly high inflation, or even a spike in geopolitical tensions,” he added.

In the rest of the market, silver rose 0.6% to $ 23.17 an ounce, but ended 2021 down 12%, its worst performance in seven years.

Platinum fell 0.5% to $ 956.50 an ounce to end the year down 10%, while palladium plunged 4.8% to $ 1,871.68 an ounce to end 2021 with its worst performance. in six years.

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