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Metals: gold regains strength

15/05/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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Gold regained its footing on Monday after three consecutive weeks of losses. Negotiations on the American debt ceiling are dragging on.

After reaching its lowest level since May 5 on Friday, spot gold was up 0.2% to $2,015.80 per ounce at 0927 GMT. U.S. gold futures rose 0.1% to $2,021.40. According to Han Tan, chief market analyst at Exinity, “the bullion remains supported above $2,000 by persistent anxiety over the ongoing US debt ceiling negotiations as well as by hopes that the Fed has

completed its rate hikes.”

Platinum rose 0.8% to $1,057.79 and palladium rose 1.4% to $1,529.95 and cash rose 0.5% to $24.03 per ounce.

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