According to analysts' observations, the losses that the yellow asset suffered in June 2021 were the most significant in more than 8 years. The last time gold showed such a monthly decline was in the spring of 2013.
The most successful months for the precious metal in the first half of the year were April and May. Gold finished in the black, thanks to which the asset managed to reach a positive trend in the second quarter. During this period, gold bars jumped by 5%.
According to experts, the pricing of precious metals is directly dependent on two factors: the exchange rate of the US currency and the yield of 10-year US bonds.
For 6 months, the dollar index, which determines the ratio of the dollar to a basket of currencies of six countries, increased by 2.3%. The yield of US treasury bonds also showed a positive trend. The indicator rose to 1.443% against 0.916%.
The strengthening of the dollar and the increase in profitability made the precious metal less profitable for investors, which ultimately had a negative impact on its value.
In addition, interest in reliable assets, which traditionally include gold, decreased against the background of an increase in appetite for more risky ones. This happened as the optimistic statistics of European countries, as well as America and China, were released.
For silver, the first half of the year was also not the most successful in history, and the first summer month turned out to be a period of significant losses. In June, the asset lost more than 7% in price. This is the most serious monthly decline since September last year, when the quotes collapsed by almost 18%.
As for industrial metals, the first half of the year, on the contrary, turned out to be successful for them. Against the background of the recovery of economic activity, the demand for raw materials was actively increasing. Along with it, asset prices also grew.
Thus, the largest increase since the beginning of the year was shown by aluminum. It gained more than 27% in price. Copper (+ 21%) and nickel (+10%) also rose in price over 6 months.
Despite the fact that in the second quarter of the year, a strong dollar restrained the cost of industrial metals, assets still showed significant dynamics. The price of aluminum jumped by 15%, nickel quotes increased by 13%, and copper rose by 7%.
The picture yesterday
Gold finished the last day of June on a positive note. Yesterday, the value of the asset increased by 0.5%. Thus, its final price on the Comex exchange in New York was $1,771. 60.
Silver quotes also made its way up. The July futures contract gained 1.1% and reached the level of $26,165.
The picture today
On Thursday morning, gold continues to hold the upward course taken a day earlier. The main catalyst for the growth of quotes is the growing fears about the active spread of a new strain of coronavirus "delta".
Some countries are seriously thinking about introducing new lockdowns. This may slow down the recovery of economic activity, which in turn will favorably affect the pricing of reliable assets, including gold.
At the time of preparation of the material, the yellow precious metal was trading at $1,777. The difference from the previous close was $5.25, or 0.3%.
Silver also rose by 0.71%. In the morning, its quotes approached $25,352.
