The World Gold Council reports that gold prices will remain stable through the year, supported by central bank buying and strong Asian investment flows.
gold price
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Gold prices suffer their biggest one-day drop in over two years after a robust US jobs report and a halt in gold buying by China’s central bank raise concerns about future interest rates and investor demand.
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Gold prices surged on Wednesday, reaching their highest level in nearly a month, as data indicated cooling inflation and sluggish retail sales in the United States. These figures bolstered expectations of an interest rate cut by the Federal Reserve later this year, which typically strengthens the appeal of gold.
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The price of gold is on hold as investors await the outcome of the Federal Reserve meeting and the release of key US jobs data. The Fed is expected to maintain its hawkish stance on interest rates, while a strong jobs report could further dampen gold prices. However, potential upside factors include increased buying from Asia and a weakening US dollar.
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Gold surges past $2,400, driven by geopolitical concerns; silver hits highs.
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A massive landslide at a gold mine in eastern Turkey has left nine workers buried under earth and rocks. Rescue efforts are…