Gold has surged 35% this year, driven by geopolitical conflicts, Federal Reserve actions, and strong central bank demand amidst U.S. political uncertainties. Meanwhile, the U.S. economy grew at 2.8% in Q3, lower than expected, while consumer confidence rose significantly. Job openings fell, reflecting a cooling labor market, and concerns over electric vehicle sales persist.
Gold’s record-high prices, combined with growing economic uncertainty and market volatility, are bringing a new focus to the precious metal’s role within global financial markets.
Gold and silver prices are sharply higher in early U.S. trading Friday, following another downbeat economic report that falls squarely in the camp of the monetary policy doves, who want the Federal Reserve to lower interest rates sooner rather than later.
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