Weekly Commodities Fundamental Report – 31st March 2023

Gold

Gold prices rose slightly in the previous week, recouping the minor drop seen the previous week. This week, bullion prices ended the quarter and month on a higher note, as expectations that the Fed will consider a rate-hike pause in the aftermath of the failure of two US regional banks. The weaker US dollar index increased demand for gold. However, as the banking crisis has subsided, solid buying interest has waned. Markets anticipate that the Fed will leave interest rates unchanged in May.