Gold price (XAU/USD) edges higher to nearly $2,450, snapping the two-day losing streak during the early Asian session on Thursday.
Gold price posts modest gains around $2,450 in Thursday’s early Asian session. The US CPI inflation rose as expected in July. Any signs of rising geopolitical tensions might lift safe-haven assets like Gold . Gold price edges higher to nearly $2,450, snapping the two-day losing streak during the early Asian session on Thursday. The weaker US Dollar provides some support for the precious metal on the day.
Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
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