In the realm of precious metals, gold experienced an eventful day of trading on Monday. The valued metal took a sharp decline of 2% at the start of the month, but later regained some of its losses to remain steady by Tuesday. As we move into early Tuesday deals, gold prices continue to plateau after the intense trading session.
The precious metal remains stationary in early Tuesday deals as prices ease after a volatile Monday session. The yellow metal experienced a dip of over 2% to begin trading in April yesterday, but passionate gold enthusiasts promptly intervened and supported the price, bringing it back to near the opening levels.
Presently, in early morning trades, a troy ounce of bullion is being exchanged around the $1,980 mark. Over the past week, a slight upward movement has characterized dealmaking, as traders digest global economic shifts, and more recently, OPEC+'s production cut, which has rekindled inflation worries.
Gold prices are in for an unpredictable end of the week, with the US releasing crucial monthly reports while European countries and Canada take a break on Good Friday. The March jobs numbers and unemployment rate will not only cause an uproar in the gold market but also affect all significant asset classes.
