The price of gold peaked above $2,000 on April 5, boosted by weak U.S. economic data as well as fears from the banking crisis shaking up the financial sector.
Spot gold prices hit $2,028 an ounce in early trading on Wednesday, hitting the highest level since March 2022. U.S. gold futures hit a high of around $2,040 per ounce. Meanwhile, the U.S. Dollar Index was hovering near two-month lows, making gold a cheaper investment option for investors holding other currencies. Gold prices in sterling and euros were at their highest level in over a week. The commodity had previously peaked above the $2,000 level in March 2022 and in August 2000. The boost in gold prices comes amid weak U.S. economic data and the ongoing banking crisis facing the country. U.S. job openings fell to its lowest level in almost two years in February, suggesting a cooling down in labor […]
Excerpt Sourced From: discern.tv
