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Poor US Jobless Claims Bolster Gold Appeal

Gold’s safe-haven appeal was renewed yesterday after the weekly US Jobless Claims persisted close to the two million levels, indicating that the economic consequences from the COVID-19 pandemic will not be alleviated easily. US gold for August delivery rose by 1.3% to record $1,724.40/oz on New York’s Comex following the Labor Department’s report that an […]

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Gold Slides Following Fresh Risk-On Rally in Global Equities

Gold (XAU/USD) underwent a sharp retrace into the red zone in yesterday’s European session, hitting $1,704 in the early trading hours of today. At press time, the Gold spot is trading at $1,724, a 1% drop from yesterday’s high. This retrace was largely stimulated by the recent risk-on rally in global equity markets. The growing […]

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Gold Begins June On a Positive Note

The price of Gold (XAU/USD) remains steady above the $1,730-35 levels with an intraday high of $1,744.69 in the Asian session. The bullion is benefiting from the current risk-off sentiment by investors as tension escalates between the United States and China. The yellow metal is also benefiting from the increasing protests across the US. Despite […]

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