After plunging from all-time highs over the previous week, gold prices turned around today and increased by almost 3%, the largest percentage increase since October 2023.
The action was taken during this morning’s bond market meltdown, which was followed by an afternoon stock price spike that was unprecedented.
Gold futures saw the biggest daily rise in dollar terms since March 24, 2020, when investors were rushing into the haven asset as markets were being shaken by Covid lockup orders. The price of gold was $88.10 per troy ounce.
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