As per Yahoo Finance, the price of gold rose sharply to single day high above $4,600 per ounce on Monday, January 12. This surge was in response to the subpoenas issued to Federal Reserve Chairman Jerome Powell.
This event, coupled with geopolitical tensions and the anticipation of a rate change, has led investors to seek safety in the dependable haven of gold. The spike in gold prices is a reflection of the risk-averse sentiments permeating international markets.
Experts are closely monitoring the situation to see how long this trend might last, and are advising investors to watch the market closely for any shifts in the global economic landscape. Read More
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