Tue. Feb 7th, 2023
Золото дорожает на фоне сдвига Covid в Китае

China lifts even more COVID controls.

As China eased more COvid regulations, the price of gold increased to trade above $1,800 per ounce, putting additional pressure on the dollar as risky assets surged.

Hedge fund managers increased net bullish bets on gold.

Beginning in early January, China will no longer quarantine inbound passengers, hastening the reversal of tough pandemic regulations and improving perceptions of Asia’s largest economy.

On the strength of a weaker dollar and expectations that the Federal Reserve will ease up on its hawkish monetary tightening, gold increased by more than 8% in the fourth quarter.

In Shanghai trade, spot gold increased 0.4% to $1,804.60 an ounce, while the Bloomberg dollar index declined 0.3% and is approaching its lowest point since June.

 

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