Hope of an American economic recovery sends gold prices tumbling

GLOBAL – Gold Prices, which have been on an upward trend since the onset of the pandemic, went tumbling down in mid-August this year as investors warmed up to hopes of a recovering American economy. Prices declined more than 5% to $1,927.39 per ounce in mid-august this year – the worst single-day rout in seven years and a far cry from the record high of $2,089.20. Analysts pegged that tumble to a number of factors including rising U.S. real yields on optimism surrounding the virus, the strengthening dollar, and increased…

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