Gold ended the session lower under pressure from a strong dollar abroad. More turmoil in the banking sector is on the radar, with Deutsche Bank now in the spotlight, as well as the defense of this week’s monetary decision by Federal Reserve officials, which added to some fears of a recession in the US economy and contributed to the search for the dollar. . and US bonds.

Gold rose 0.61% to $1,983.80 a troy ounce in April on the Comex, the metals division of the New York Mercantile Exchange (Nymex). In a weekly comparison, the contract rose by 0.52%.

According to Julius Baer, ​​gold has shown a very strong and fast rally in recent days, influenced by fears in the banking sector and in anticipation that the Fed will quickly change its monetary policy. However, the bank believes that this scenario is unlikely, which increases the risks of lower prices for the precious metal.

This Friday, the 24th, Federal Reserve leaders defended the latest monetary decision by again raising interest rates and resilience in the US banking system. Atlanta County President Rafael Bostic said that given the soundness of the banking system, directors’ attention should have been focused on curbing demand to meet the 2% inflation target. President of the Church of St. Louis, James Bullard, argued that the US BC could slow inflation and achieve a soft landing in the economy.

Amid risk aversion over Deutsche Bank concerns, the speech has benefited the dollar and Treasury seeking this session, putting pressure on gold. As for TD Securities, the banking sector has yet to show signs of stabilizing and, contrary to what Fed officials are defending, the investment bank is raising its expectations for cuts in June, which is generally positive for gold prices.