2024-11-07 05:40:10
Markets
Economy

Gold Prices Face Volatility Amid Economic Shifts

Recent market fluctuations have seen gold prices experience a significant decline. The price of gold rings dropped by 5.17%, while gold bars fell by 1.69%.

Globally, spot gold decreased by 0.1% to $2,656.34 per ounce after reaching a record high. Analysts suggest that the potential inflationary policies following Trump's election may slow down economic recovery, influencing gold's value.

Despite this drop, gold's appeal as a safe-haven asset remains strong, particularly in light of trade tensions and a widening U.S. budget deficit. Predictions indicate that gold prices could soar in the future, with forecasts suggesting a potential rise to $2,900 an ounce by mid-2021, fueled by ongoing economic uncertainties.

Global Economy - South China Morning Post
7. November 2024 um 01:42

Will gold gain lustre in wake of Trump’s election win?

Finance
Economy
Politics
Trump's election win will increase trade tensions, impacting the US dollar and US dollar-denominated assets. Analysts predict gold prices will rise to fresh highs, with GF Securities noting 'Trump deals' led to a strong US dollar, rising gold prices, falling oil and copper prices, and volatile US stocks. JD.com's chief economist says gold's status as a reliable safe-haven and store of value is growing. Gold hit a record high of $2,769.25 an ounce on October 29, rising nearly 35% this year, but..
VnExpress English
7. November 2024 um 04:17

Gold price plunges 5%

Finance
Economy
Politics
Gold ring price plunged 5.17% to VND84.4 million per tael; gold bar price fell 1.69% to VND87.5 million per tael. Globally, spot gold fell 0.1% to $2,656.34 per ounce after hitting a record high, as Trump's potential inflationary policy could mean slower cuts, but a widening U.S. budget deficit may be positive for gold, according to Kelvin Wong, OANDA's senior market analyst, Asia Pacific. Focus was also on the Federal Reserve's interest rate decision later in the day.
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