Pressure on gold on April 28 is exerted by an increase in the yield of US government bonds and the strengthening of the dollar in anticipation of the decisions of the Federal Reserve System following its April meeting.
Against this background, the price of this precious metal fell by 0.57%, amounting to $1,766. 59 per troy ounce. Thus, the active growth of the value of gold in its quest to overcome the level of 1 thousand 800 dollars has stopped, since the recovery of the yield of US government bonds and the strengthening of the US national currency are negative factors for this precious metal, said Carlo Alberto De Casa, the economist at the British brokerage ActivTrades.
According to him, gold prices may change if the Fed makes a decision that affects the change in the direction of bond yields. The dollar index rose 0.1%. Goldman Sachs analysts predict that gold will rise in price to 2 thousand dollars in the next six months.