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Gold prices rose for a third straight session on Wednesday and hit a one-week high, helped by a softer dollar and safe-haven demand amid economic and geopolitical uncertainty.
Gold can help seniors and retirees protect their savings, but is this the time to invest? Here's what to know.
Gold swung to losses on Thursday as the U.S. dollar strengthened and investors booked profits after prices touched a two-week high earlier in the session. Spot gold was down 0.6% at $3,295.21 an ounce,
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Shoppers looking for fashionable fine jewelry have been undeterred by rising prices.
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The gold-silver ratio provides insight into the relationship between gold and silver prices. As the price of gold per ounce continues to rise, it can be costly to get in if you want to buy physical gold. With a high gold-silver ratio, now may be a good time to look into silver investments.
What we see here is that, with the exception of the downturn following the U.S. presidential election, gold hasn’t really traced out a typical correction. It’s basically only taken brief breaks from its ascent.
“When the first results came in, we realized that we had literally struck gold,” Nils Messling, a geochemist at Göttingen University, said in a statement. “Our data confirmed that material from the core, including gold and other precious metals, is leaking into Earth’s mantle above.”
Earth's largest gold reserves are not kept inside Fort Knox, the United States Bullion Depository. In fact, they are hidden much deeper in the ground than one would expect. More than 99.999% of Earth's stores of gold and other precious metals lie buried under 3,
Gold should gradually rise to $3,750/oz by 4Q on likely safe-haven demand and a weakening U.S. Dollar, said Vivek Dhar of CBA’s Global Economic & Markets Research in a research report.