This website uses cookies to ensure you get the best experience on our website. You may read the full details in our Privacy Policy


16th Mar 2021
Dalmas Ngetich, for AltumFx News Team

Gold Prices Under Pressure, Falls on Stronger USD

The yellow metal, on Mar 16, fell on a firmer USD, slowing down after encouraging builds of the past week. Although still struggling at around a 10-month low, gold prices face significant headwinds in the face of improving the U.S. and global economies. Notably, the coronavirus vaccines' success and rising bond yields may pull the ladder from below gold bugs, forcing prices lower.


Gold prices rely on several factors. Most importantly, the state of the economy being a safe-haven remains on investors' radar. Therefore, while effects are conflicting as the U.S. intervenes through direct $1.4k checks, the upside would be capped due to improving economic conditions, rising bond yields, and better administration of the coronavirus vaccine. Overly, the $1.9 trillion COVID-19 relief status backs analysts' economic outlook. Accordingly, gold as a safe-haven will struggle as long as this outlook improves.

Impact on gold prices: 

Neutral to bearish. Gold prices will likely see-saw, proving more opportunities for derivatives and CFD crypto traders to clip on volatility. Although retail sales came in lower than expected, the FED's FOMC statement and comments on inflations could move gold prices.

More market news over on our Blog

The website is operated by a group of companies. 360 Degrees Markets Ltd and ISPASS Technologies Ltd are companies of this group.
ISPASS Technologies Ltd, a software provider, is a registered company in Cyprus, with registration number HE394419 and has its registered address at Nikolaou Nikolaidi 3, Flat/Office 205, Paphos 8010, Cyprus.

360 Degrees Markets Ltd is a registered company in Seychelles, with registration number 8421720-1 and has its registered address at Suite C, Orion Mall, Palm Street, Victoria, Mahe, Seychelles. 360 Degrees Markets Ltd is regulated by the Seychelles Financial Services Authority under the Securities Dealer license number SD019.

All payments through Skrill and Neteller are processed by 360 Degrees Markets Ltd.

AltumFx does not accept residents of certain jurisdictions such as USA, Canada, Iran, North Korea and Russia.

Since AltumFX is not under the supervision of the JFSA or ESMA, it is not involved with any acts considered to be offering financial products and solicitation for financial services to Japan or in the European Union countries and this website is not aimed at residents in Japan or in the European Union countries.

Risk Warning: Trading any kind of financial instrument, including derivatives, carries a high level of risk and may result in the total loss of your investment. You should only trade with money you can afford to lose. Trading derivatives may not be suitable for all investors. By trading with AltumFx, you acknowledge your understanding of this risk warning and your agreement with the Terms and Conditions. AltumFx always recommends you seek independent advice if necessary.