Gold price stability in a calm market

Gold and silver prices remain relatively stable in a calm market, with futures contracts rising slightly. Concerns about the Russo-Ukrainian war, Federal Reserve policy, and inflation persist, but with no major developments, markets are showing renewed risk appetite. Meanwhile, the Russian central bank lowered its main interest rate from 20% to 17%, indicating a stabilization of the Russian financial system despite economic sanctions.
“Gold price is stable in a slightly calmer market”
Gold and silver prices are not far from unchanged. First, metals traders are monitoring major external markets and are calmer to end the trading week. June gold futures were up $0.30 at $1,938.50 and May Comex silver was last up $0.05 at $24.79 an ounce.
Gold and silver prices appear mixed as US action begins on Friday.
Global stock markets appear mixed but mostly higher overnight.
Gold Prices and Concerns
US stock indices are heading for slightly higher openings as the New York session begins. Risk aversion is less pronounced at the end of the week. The Russo-Ukrainian war, a more hawkish US Federal Reserve, and rising global inflation continue to raise serious concerns.
However, from a market perspective, there were no major developments on these fronts. This allowed traders and investors to show a little more appetite for risk. This was at the end of this week. On the gold market, the price of gold is therefore balanced but tending to increase.

A Lower Interest Rate
In overnight news, the Russian central bank lowered its main interest rate from 20% to 17%. This is a sign that the Russian financial system is stabilizing, after being severely disrupted by the war and economic sanctions.
Moreover, the Russian ruble also staged a recovery from the depths seen during the first two weeks of the war.
Reports indicate that JP Morgan has warned that commodity prices (such as gold, which is either rising or holding steady) could rise by another 40% if investors shift their allocations to commodities at a time of rising inflation. Problematic inflation has always been bullish for commodity markets.
Nymex crude oil futures prices are firmer today. They are trading around $96.50 per barrel. The US dollar index is almost flat early today. It hit a nearly two-year high overnight. The yield on the 10-year US Treasury note is currently at 2.67%. Treasury yields have risen significantly this week.
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Source: Kitco