China, Trump and Gold
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The People’s Bank of China reported its 11th consecutive monthly gold purchase, adding 1.2t in September and pushing the Q3 total to 5t. Read more here.
Gold prices rose by over 2% on Monday, buoyed by expectations of further U.S. interest rate cuts and sustained safe-haven demand, as investors awaited upcoming U.S.-China trade talks and inflation data out of the U.
Gold advanced to trade near its record as investors piled into the precious metal despite easing trade tensions and the prospect of the US government reopening.
Spot gold rose as much as 2.9% to $4,380.89 an ounce, surpassing its all-time high set last week before the selloff. US gold futures jumped over 4% to nearly $4,400 an ounce, also a new high.
Gold prices pierced the $4,200 mark for the first time to set a fresh record high on Wednesday, as renewed U.S.-China trade tensions exacerbated existing global uncertainties, alongside increased bets on further U.
Gold and silver touched all-time highs as fears about credit quality in the economy and heightened US-China frictions strengthened demand for havens, while investors piled into bets that the Federal Reserve could deploy an outsized rate cut this year.
Doug McIntyre and Lee Jackson discuss the recent surge in gold prices, which have climbed toward $4,000 per ounce after years of steady gains. Lee explains that gold’s rise is being fueled by investors seeking alternatives to an overheated stock market and by heavy buying from central banks,
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Bank of America just made a bold forecast. It says gold will reach $5,000 per ounce by 2026, a striking prediction that is fueled by a global rush into gold. Central banks, particularly in China and India,
Gold prices are soaring, reaching historic highs as China announces the discovery of its largest gold deposit, potentially holding over 1,000 metric t
Gold surged past $4,000 an ounce, up 50% this year, driven by investor fears over government debt, a weaker dollar, a buying spree by China’s central bank, and concerns the AI stock boom may collapse.