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Which Presidential Candidate Does Gold Prefer?
- July 15, 2024
- Posted by: Agbaje Feyisayo
- Category: News
No CommentsGold has historically thrived in periods of economic uncertainty and policy shifts, especially in the context of U.S. presidential elections and their associated policies. This analysis explores how different presidential administrations, specifically under Donald Trump and Joe Biden, have influenced gold prices through their policies and international relations. Gold’s Performance Under Trump and Biden Under
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Wall Street sees gold prices challenging $2,500 next week, Main Street sentiment is more restrained
According to a survey, Wall Street anticipates gold prices could challenge $2,500 next week, while Main Street sentiment is more restrained. This week, the gold market faced significant economic data and in-depth Fed commentary, leading to one of the most dramatic moves for precious metals this year. Spot gold began the week trading at $2,361.17,
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Gold surges past $2400 amid multiple bullish catalysts
- May 20, 2024
- Posted by: Agbaje Feyisayo
- Category: News
Gold prices soared past $2,400 on Friday, driven by a confluence of favorable factors that propelled the precious metal to new heights. June 2024 futures settled at a record $2,419.80, up $39 or 1.64%. Spot gold mirrored this rise, climbing $41 or 1.78% to an all-time high of $2,417.50. This remarkable rally was primarily fueled
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Gold price keeps moving around $2,300
Gold prices have been oscillating around the $2,300 mark, seemingly ensnared in a stalemate that may entice some investors to liquidate, potentially suppressing prices in the short term. This current state of affairs is primarily a result of investors eagerly anticipating more definitive signals from the Federal Reserve, as the likelihood of a rate cut
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Gold price rebounds on downbeat NFP data, eyes on Fedspeak.
Gold prices rebounded during the European session on Monday, breaking a two-day losing streak. This was in response to the market’s digestion of the U.S. employment data, which was weaker than expected. The U.S. Nonfarm Payrolls (NFP) report, a significant economic indicator, has increased the likelihood of a September rate cut by the U.S. Federal
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Renowned figures in the financial world, Robert Kiyosaki, David Einhorn, and Gary Shilling, are all sounding the alarm on inflation — a concern shared by the Fed.
- April 9, 2024
- Posted by: Agbaje Feyisayo
- Category: News
Paul Volcker, the ‘dragon slayer’ who took decisive action against inflation in the 1980s, left a formidable legacy that current Fed Chair Jerome Powell is still striving to equal. As inflation concerns resurface, Wall Street’s unease heightens, with Powell yet to claim victory over this persistent economic challenge. In a recent announcement, Powell underscored that
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30% Upside as Fed Cuts Interest Rate
Amidst the stock market’s record-breaking ascent, gold, a steadfast refuge for investors, has also been on the rise. Last week, gold prices reached an unprecedented $2,328.7 per ounce. This surge, according to renowned economist David Rosenberg, president of Rosenberg Research, could propel gold to a staggering $3,000 before the next business cycle shift, marking a
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Gold price edges down from all-time highs as US Dollar Treasury yields revive.
In Thursday’s early American session, the gold price experienced a downturn from its recent all-time highs, touching around $2,220, as the US Dollar and Treasury yields saw a significant recovery. The US Dollar Index (DXY), which measures the dollar’s value against a basket of six major currencies, climbed back to 103.50. This rebound followed a
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Wall Street advises caution on gold prices next week
- March 21, 2024
- Posted by: Agbaje Feyisayo
- Category: Buy Gold, Gold, Gold Investing, News
Inflation data significantly influenced last week’s movements in the gold market, but as the week progressed, the focus shifted to the Federal Reserve and the anticipated adjustments in interest rates. Following Wednesday’s Federal Open Market Committee (FOMC) meeting, the Fed’s indication of maintaining three projected rate cuts in 2024 sparked a surge in gold prices.
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Gold Hits New All-Time Record High
On 8th of March, 2024, gold prices soared to a record high, driven by anticipation of monetary easing in the U.S. and ongoing geopolitical tensions. This surge attracted momentum-driven funds, potentially setting the stage for further increases in the value of this precious metal. The broader, robust fundamental factors supporting gold include: Strong physical demand
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