Gold, China
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Gold's price continued to decline this week. Here's how investors can take advantage of this timely opportunity.
The Philippines built up its holdings when gold traded around $2,000 per troy ounce. Prices have since more than doubled.
Gold extended declines on Tuesday to a three-week low as optimism over a US-China trade deal continued to put pressure on the safe-haven asset.
Several economic catalysts could push gold to $5,000 per ounce, but the timeline depends on when conditions shift.
Gold futures are falling to three-week lows as profit-taking continues to grip bullion after its strong run this year. The Nymex gold future hit a record high of $4,398 an ounce at the start of last week,
The price of gold is expected to hit $4,980 a troy ounce over the next 12 months, up some 27% from current levels, delegates to the London Bullion Market Association's (LBMA) annual gathering in Kyoto predicted on Tuesday.
Less than a day after gold soared to another record high, prices for the precious metal plunged — marking the biggest sell-off in years.
Glenn Beck said Donald Trump revealed to him the reason for adding a lot of gold to the Oval Office—and it apparently goes beyond the president’s personal taste. On a recent episode of The Glenn Beck Program,
Bullion prices surged more than 30% over the four months leading up to last week’s record high, as well, with data from Bank of America’s “Flow Show” report noting that inflows into gold portfolios over that time period outpaced total inflows tallied over the past 14 years.