Representative image Gold prices soared to an all-time high on Friday as the dollar weakened amid prospects of super-sized reduction in U.S. interest rates next week, while palladium has gained over 15% so far this week. Spot gold was up hitting a record 0.3% at $2,567.23 per ounce by 0703 GMT, after high of $2,570.21…
Gold accelerated declines on Friday after a stronger-than-expected U.S. jobs report doused expectations for U.S. interest rate cuts this year, adding to bearish sentiment driven by data showing top consumer China held off on bullion purchases in May. Spot gold dipped about 3% to $2,304.54 per ounce as of 1757 GMT. U.S. gold futures settled…
Spot gold tested a new lifetime high last week due to a combination of factors that have converged to propel the demand for the yellow metal. Multiple catalysts like US rate cut speculation, China’s economic stimulus, and renewed geopolitical tensions attributed to the rise in prices. Prices on the London spot market surged near to…
