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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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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 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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Which Presidential Candidate Does Gold Prefer?
- July 15, 2024
- Posted by: Agbaje Feyisayo
- Category: News
Gold 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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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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Gold prices hit a record high. What’s behind the surge?
On Friday, gold prices surged to a record high, marking a significant milestone in a remarkable 17% rally this year. Notably, the pace of gold’s price increase has outpaced the growth of the S&P 500— a widely used benchmark for most 401(k) plans—by more than double, underscoring the strength of the gold market. Experts attribute
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