Gold

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Gold Prices Rise $13.40 as Weakening Dollar Boosts Market, Anticipating Fed’s Interest Rate Decision

Gold futures concluded higher on Thursday (June 1), supported by a weakened dollar and expectations that the Federal Reserve (Fed) would maintain interest rates during its upcoming meeting. Investors also awaited the release of US non-farm payroll figures, set to be unveiled today. Gold futures experienced a 0.68% increase, rising by $13.40 to close at …

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Last Week’s Market Summary: Dow Surges on Debt Ceiling Progress, Chip Stocks Rally on AI Optimism

In a week marked by significant developments, the Dow Jones Industrial Average closed higher on Friday (May 26) as talks to raise the US debt ceiling progressed, while chip stocks experienced a second consecutive day of gains driven by optimism surrounding the prospects of artificial intelligence (AI). Here’s a closer look at the market summary …

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UAE Emerges as Leading Gold Trading Hub for Russia Amidst Western Sanctions on Ukraine Issue

In the wake of Western sanctions imposed on Russia in response to its aggression against Ukraine, the United Arab Emirates (UAE) has risen as a prominent gold trading center for the country. These sanctions have disrupted Russia’s original gold export routes, prompting a shift in trade dynamics. According to data from Russian Customs, between February …

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Gold Prices Slump $20.90 as Strengthening Dollar Takes Toll on Markets

On Thursday (May 25), gold futures plummeted to a nine-week low and closed in negative territory for the fourth consecutive day as the resurgent US dollar continued to exert downward pressure on the markets. Investors remained vigilant, awaiting the release of the US Personal Consumption Expenditure (PCE) price index, a crucial indicator that could offer …

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Gold Declines $9.90 as Dollar Strengthens, Investors Await Economic Indicators

Gold futures experienced a downturn on Wednesday (May 24) as the relentless strength of the dollar continued to weigh on the market. Meanwhile, investors closely monitored the release of key economic indicators, including the first quarter 2023 gross domestic product (GDP) and the US personal consumption expenditure (PCE) price index, which could provide insights into …

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Gold Closes Down $4.40 as Investors Await Debt Ceiling Negotiations

In a day marked by a stronger dollar and concerns over increasing interest rates, gold futures experienced a decline on Monday (May 22). Meanwhile, investors eagerly awaited the outcome of the ongoing debt ceiling talks between US President Joe Biden and US House Speaker Kevin McCarthy. Gold futures slipped by $4.40, accounting for a 0.22% …

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