TSX:MMP.UN - Post by User
Post by
mousermanon Aug 20, 2024 9:24am
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Post# 36187560
Gold prices notch another new high
Gold prices notch another new high ) - Gold prices are solidly up and hit another record high in early U.S. trading Tuesday. December Comex gold futures notched a record high of $2,564.60. Silver prices are also on the march higher and hit a four-week high overnight. Bullish charts and safe-haven demand, especially from China, are pushing the precious metals markets higher. December gold was last up $22.10 at $2,563.40. September silver was up $0.571 at $29.875.
Broker SP Angel said this morning in an email dispatch: “Chinese exporters and traders have been seen rushing to buy yuan and probably gold in anticipation of further U.S. dollar weakness. The metal has also been buoyed by Chinese buying after China’s central bank cracked down on local government bond buying. Troubles in the Chinese property sector have caused gold to become a preferred instrument for individual savings in China.”