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Precious metals on the rise following potential G7 ban on Russian gold
Precious metals were buoyant on Monday morning, kicking off the week on a good note, with gold, silver, platinum and palladium all up. This was following reports of certain G7 countries planning to ban Russia gold imports, in a new wave of sanctions. However, the upcoming European Central Bank’s Forum on Central Banking, due to be held later in the day, put a floor on prices. The forum is expected to shed more light on the ECB’s 25 basis points interest rate hike in July, as well as detail the path forward from there. According to Piero Cingari, analyst at Capital.com, “The US dollar (DXY) declines, real rates ... (full story)