{"id":107344,"title":"Gold retains its shine and is currently valued at US$2,026 per ounce","publisher":"Share Talk","author":"sharetalk","published":"2023-04-05T08:27:51+00:00","modified":"2023-04-05T08:27:51+00:00","canonical_url":"https://www.share-talk.com/gold-retains-its-shine-and-is-currently-valued-at-us2026-per-ounce/","markdown_url":"https://www.share-talk.com/gold-retains-its-shine-and-is-currently-valued-at-us2026-per-ounce.md","json_url":"https://www.share-talk.com/gold-retains-its-shine-and-is-currently-valued-at-us2026-per-ounce.json","category":"Blogs","categories":["Blogs","Mining"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":"Amidst turmoil and uncertainty in the broader markets, gold retains its shine and is currently valued at US$2,026 per ounce, having gained almost 8% in the past 24 hours. This surge has taken the precious metal to its highest value in a year.\n\nThe latest weak US economic data and the increasing possibility of the Federal Reserve cutting interest rates are driving gold towards its all-time high of $2,075, says Fawad Razaqzada, a market analyst at City Index and FOREX.com.\n\nRazaqzada notes that gold has already surpassed the $2,000 mark and has broken through the $24 resistance level, while silver is approaching the $25 level, both aided by declining bond yields and a weaker US dollar.\n\nThe trend is not limited to the US as a survey of over 2,000 UK investors conducted by The Royal Mint and Censuswide revealed a 26% increase in the volume of gold investments last year.\n\nGen-Z and Millennial investors led the charge, increasing their purchases by 38% and 29% respectively."}