Tags: Gold price
Rising US Debt Levels and Economic Instability Fuel Gold Price to New Record High of $2,700 per Ounce
Gold prices have surged to $2,729 per ounce, with experts predicting further increases due to rising US debt and central bank purchases.
Gold Hits Record Highs of $2,540.8 per Ounce, Analysts Predict $3,000 by 2025
As of August 19, gold prices have hit new highs, with spot gold at $2,508.14 per ounce and U.S. futures at $2,540.8 per ounce, amid rising expectations that prices could reach $3,000 by mid-2025.
Gold Production on Pause as Mining Industry Reveals Gold Becomes Difficult to Find
The gold mining industry struggles to ramp up gold production due to declining deposits, financing, and regulatory challenges as gold prices increase.
Gold Hits New High, Soaring Above $2,300 for the First Time
Gold surged above $2,300 an ounce for the first time Thursday. Gold surged above $2,300 an ounce for the first time Thursday amid mounting concerns over inflation and economic instability.
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On Tuesday, the precious metal gold glided owing mainly to the increase in a dollar. In addition, the positive US data, which fuelled the speculation on Fed interest rate hike, drove the global share market to a new height.
Gold purchase in India increased 62% during the month of January. The government lifted the import duty on gold citing the growing prices in global market.
The gold price drop last week showed its lowest since 2010 and the yellow metal is poised for further fall likely to record biggest monthly drop in the past two years.
The curtain came down on nearly a century of tradition for bullion markets on Friday when U.S. bourse Intercontinental Exchange (ICE) was named as provider of an electronic benchmark gold price to replace the twice daily "fix".
Gold prices, after a previous period of decline, is now on the rise, recently topping the USD1,400 level.
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