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Metals Weekly Round-Up: Historic Gold and Silver Rally Continues
Gold continued to trend higher this week breaking its previous all-time high. A weak US dollar and a steady uptick in America’s new COVID-19 cases sent investors to safe havens, ultimately benefiting gold and silver. Poor economic data is painting a bleak picture for economic recovery as many analysts begin to realize the rumored V-shaped recovery will not materialize. The yellow metal started the session firmly planted above US$1,900 per ounce. By mid-week the metal had reached US$1,970 and was still strengthening. In pre-trading hours Friday (July 31) the price hit US$1,980 nearing the US$2,000 threshold. ... (full story)