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On 6 June, the European Central Bank (ECB) implemented its first rate cut in five years, reducing the interest rate by 25 basis points to 3.75%, despite higher-than-expected inflation figures from May. This move followed a similar rate cut by the Bank of Canada which reduced its interest rate by 25 basis points just a day earlier. These cuts reflect Western ...
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The Perth Mint sold 23,238 troy ounces (oz) of gold and 796,934 oz of silver in minted product form during May 2024. Opening the month around USD 2,300, the gold price in US dollar terms generally tracked flat before jumping higher by 1.5% off the back of weaker US jobs data which reinforced the potential for a Fed rate cut. On May 20 bullion hit a record ...