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Demand for minted bars accounts for higher Perth Mint gold sales
The gold price began the month of October in a downward slide with falls for a number of sessions on worries over higher US interest rates. The outbreak of conflict in the Middle East on 7 October, however, saw the gold price reverse course from levels around USD 1,820 per ounce. In line with the standard response to events such as the conflict in the Middle East, the gold price rose in line with investors’ flight to safe-haven assets. The price was trading at more than USD 2,000 per ounce by 27 October, a level not seen since May 2023, or a near 10% increase from gold’s early-month lows. The gold price in ... (full story)