Gold prices top $5,000 per ounce
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Gold price surged above $5,200 for the first time, extending gains from over 3% rally in the previous session. Silver prices also surged over 7%, extending the historic rally on rising safe-haven demand amid economic and geopolitical uncertainty.
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Sameer Samana, senior global market strategist at the Wells Fargo Investment Institute, said gold has been edging ever higher partly because of investor stress. “There’s just a very high level of angst about all the things that are going on in the world,” he said.
For decades, gold followed a familiar rhythm. Prices rose when fear spiked, fell when calm returned. When gold rallied too far, supply or selling pressure would bring it back down. That framework is now breaking.
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