Business
Gold’s Glittering Run Pushes Prices Above $5,500
Gold surged past $5,500 an ounce for the first time, extending a historic rally boosted by a weaker U.S. dollar and growing expectations that the next Federal Reserve chair will pursue further monetary easing.
In early European trade on Thursday, futures in New York climbed 3.8% to $5,505.70 a troy ounce after reaching $5,586.20 earlier in the session. Prices have gained nearly 27% so far this year, as investors shy away from bonds and currencies in favor of hard assets.
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