Gold Hits Fresh Record To US$3,358 An Oz
Gold continues to surge to 3350 USD! Goldman Sachs warns: "tail risks" could drive gold prices to 4500 USD.
Federal Reserve Chairman Powell's warning about the impact of the trade war has intensified volatility on Wall Street, leading to a significant drop in the stock market and the dollar, while gold prices hit new highs.
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Express News | Shares of Gold Stocks Are Trading Higher Amid a Rally in the Value of the Commodity Past the Price of $3300 and Towards an All-time High
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More Metal tariffs on the way? Trump orders an investigation into imports of key minerals.
Trump has instructed an investigation to determine whether the import of critical minerals to the USA poses a "threat to National Security," which could lead to tariffs or restrictions on the Industry.
U.S. gold mining stocks surged before the market opened, with Newmont rising over 10%, and gold breaking the 3,300 mark to continue hitting new highs.
① The spot Gold price broke through $3,300, reaching a daily high of $3,317.82 per ounce. Influenced by the rise in Gold prices, gold mining stocks in the U.S. strengthened overall before the market opening; ② Analysts state that concerns over a Global economic recession triggered by the trade war, along with investors' difficulties in establishing long-term positions, have made Gold a safe-haven Asset. Additionally, factors like the depreciation of the dollar and expectations of interest rate cuts by the Federal Reserve have supported Gold prices.