Gold prices retreated in mid-August after hitting an all-time high, taking a breather after a rally seen by many analysts as “too far, too fast.” However, after consolidating, gold seems poised to renew gains, supported by the havoc reaped by coronavirus on the global economy, which is set to trigger more monetary stimulus. […]
Continue ReadingGold held above key support at $1,800 per ounce in mid-July and eyed further potential gains due to its safe-haven appeal. Gold’s potential to rise further is due to fears over a possible second wave of coronavirus cases; expectations for more monetary stimulus to kickstart economies, and deteriorating U.S.-China relations. Donald Trump signed an executive […]
Continue ReadingFears of a second wave of coronavirus, stoked by Beijing’s crackdown after a surge in cases, are supporting gold. Gold prices held above $1,700 an ounce in mid-June, underpinned by news of the cluster of new cases around a food market in the Chinese capital. The number of cases of the novel coronavirus has also […]
Continue ReadingGold prices hit a more than three-week high in mid-May, buoyed by worsening tensions between the United States and China, and seem set to rise further underpinned by central bank stimulus. Gold was at $1,737.50 per ounce on May 15, its highest level since April 23, benefiting from its safe haven status due to rising […]
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