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Gold Futures Close above $2,020 per Ounce

M. Ali 4 August, 2020 10:56 pm Commodities, Market Update

Gold prices surged on Tuesday, closing at a new record level due to increased demand on safe havens and a decline in US Treasury bond yields.

Despite the US Dollar (USD) showing recovery signs on the back of positive economic data, the precious metal was over to continue its upward trend.

Gold futures for December increased by $34.70 or 1.7% to settle at $2,021 per ounce.

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