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Gold Steady at $1,800 as Biden Wants his $2 Trillion and Europe Sees Inflation Around for Longer

Gold prices traded relatively flat this week and have remained around the $1,800 mark – this after touching a near 3-month high on Friday of $1,812/oz. Gold has remained firm but is still seeking momentum from a shock either to the up or downside.   Whether the safe haven asset can rally further will greatly …

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Gold Down on Surprise Bump in August U.S Retail Sales

Gold prices sank 2% (-$35) in Thursday trade on news that U.S retail sales rose unexpectedly in August. Gold prices had been trading between $1,786 and $1,798/oz recently, but started its decline on Wednesday, after breaking above the $1,800 mark on Tuesday. A Bloomberg brief stated, “The value of overall retail purchases climbed 0.7% last …

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Gold Inches Up as Markets Await U.S Jobs Report Due Friday

01 JULY 2021 Gold Inches Up as Markets Await U.S Jobs Report Due Friday Gold prices increased by 1.43% from its low of $1,753/oz, recovering most of its weekly losses. A strengthening U.S Dollar Index over the past 5 days created a strong headwind for gold – increasing 1% to reach a 1-month high of …

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Inflation Concerns Rise as Gold Jumps Above $1,800

06 May 2021 Inflation Concerns Rise as Gold Jumps Above $1,800 Inflation expectations escalated over the past week as the recent rise in base metal, energy and agriculture prices added to inflation concerns. Subsequently, gold increased by more than 2% over the past week, jumping $27 on Thursday to $1,814/oz. U.S treasury bond yields decreased …

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