Gold price is widely followed in financial markets around the world. Gold was the basis of economic capitalism for hundreds of years until the repeal of the Gold standard, which led to the expansion of a fiat currency system in which paper money doesn't have an implied backing with any physical form of monetization. AU is the code for Gold on the Periodic table of elements, and the price above is Gold quoted in US Dollars, which is the common yardstick for measuring the value of Gold across the world.
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The precious metal drifted lower from a 12-month high above $2,000 as bank sentiment improved.
The precious metal is looking bright this week as investors bet on its safe-haven allure amid bank woes.
A sweeping rise in Treasury bond yields pressured the precious metal after a four-day winning streak.
Key economic data might challenge the short-term bullish sentiment as February’s jobs report arrives.
The precious metal pared back some gains as gold bugs anticipated a roster of economic news.
Prices of the yellow metal rose on Friday and are on track to log their best week since January.
The precious metal turned to the downside early on Tuesday as fresh dollar gains shuffled valuations.
Broad dollar gains were in the spotlight post-minutes as XAUUSD inched lower.
The yellow metal is losing some of its shine on macroeconomic headwinds.
The yellow metal is reeling out of a 5-week low as gold bugs refuse to just sit and watch.
Gold prices climb to a 9-month high after JPow’s dovish remarks.
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