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Gold Prices Retraces After Strong U.S. Jobs Data and Rising Dollar
Gold prices declined on Friday after a stronger-than-anticipated U.S. jobs report diminished expectations for a significant interest rate cut by the Federal Reserve in the upcoming policy meeting. The better-than-expected labor market data drove the U.S. dollar higher, making gold less attractive for overseas buyers. At the trading day’s close, spot gold had slipped 0.2%,
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Silver Soars to 12-Year High, Riding Gold’s Record-Breaking Rally
Silver prices surged to a nearly 12-year high on Thursday, riding the momentum of gold’s unprecedented rally. Interest rate cuts by major central banks fueled renewed investment in precious metals. Spot silver increased by 0.6%, reaching $32.03 per ounce in the early afternoon trading session, marking its highest level since December 2012. The metal briefly
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Gold reaches another new record high
Gold surged to new record highs on Thursday, 26th of September, 2024, trading above previous peaks and reaching the $2,680s per troy ounce. This impressive rally is driven by several key factors, including falling global interest rates, escalating geopolitical tensions in the Middle East, and a weaker U.S. dollar fueled by rising expectations that the
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Gold prices reach record high amid weak dollar
- September 23, 2024
- Posted by: Agbaje Feyisayo
- Category: News
Gold prices reached new record highs on Friday, driven by a weaker U.S. dollar, growing expectations of further interest rate cuts by the Federal Reserve, and escalating geopolitical tensions in the Middle East. The surge in gold prices comes despite relatively muted physical demand in Asian markets, highlighting the metal’s role as a global haven
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Silver soars 4.5% as gold reaches new heights
Gold futures edged closer to a significant milestone on Thursday, 12th of September, 2024, as the price came within $15 of reaching $2,600 per ounce, underscoring the continuing rally of the precious metal in the market. Silver also joined the upward trend, marking a significant rise alongside gold. Gold settled at $2,587.30 per ounce, hitting
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Gold prices forecast to climb to record high
Gold prices have surged to remarkable heights this year, breaking records and showing potential for continued growth into early 2025. A combination of favorable economic conditions, central bank buying, and geopolitical uncertainties have driven the rise. After reaching more than $2,500 per troy ounce in August, analysts predict the precious metal could soar to $2,700
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Gold Declines Amid U.S. Jobs Report, Sparking Fed Rate Cut Speculation
- September 9, 2024
- Posted by: Agbaje Feyisayo
- Category: News
Gold prices took a dip after a mixed U.S. jobs report spurred more speculation about the Federal Reserve’s upcoming decision on interest rates. The nonfarm payrolls report showed an increase of 142,000 jobs in the previous month, but this marked the slowest pace in three months, bringing average job gains to their lowest since 2020.
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A gold bar is now worth $1 million
Gold has reached a remarkable milestone, with the value of a single gold bar now surpassing $1 million for the first time, driven by soaring prices for this precious metal. The price of spot gold recently climbed above $2,500 per troy ounce, setting a new record. Given that a standard gold bar typically weighs 400
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Gold tops $2,500 for the first time
- August 20, 2024
- Posted by: Agbaje Feyisayo
- Category: Gold, News, Uncategorized
Gold recently surged past $2,500 per ounce for the first time, driven by expectations that the Federal Reserve is edging closer to cutting interest rates. On Friday afternoon, spot gold broke through the $2,500 mark, surpassing its previous record set just last month. This increase followed disappointing U.S. housing data, which bolstered predictions of more
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Gold dips in volatile market, spot back above $2,400/oz
- August 5, 2024
- Posted by: Agbaje Feyisayo
- Category: News
Gold prices dipped on Monday in a volatile market as investors liquidated their positions amid a broader equities sell-off. Despite this decline, gold’s appeal as a safe-haven asset remains strong, especially as concerns about a potential U.S. recession grow. Spot gold decreased by 0.8% to $2,425.04 per ounce by 0856 GMT. U.S. gold futures also
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