Gold Prices Rally, Silver Halves 8% Plunge But Real Interest Rates Surge Fastest Since March Covid Crisis Ahead of US Election

Gold Prices Rally, Silver Halves 8% Plunge But Real Interest Rates Surge Fastest Since March Covid Crisis Ahead of US Election

GOLD PRICES rallied Friday in London, cutting this week’s drop to less than 1% as the Dollar eased back ahead of next week’s US election and Eurozone GDP came in stronger than expected, but inflation data and expectations across Western markets weakened as more countries imposed new anti-Covid rules.

Paris’ streets were jammed last night as drivers tried to leave France’s capital ahead of its new national lockdown began, while Nottingham in the English Midlands saw crowds partying in fancy-dress as new ‘Tier 3’ restictions came into place.

The EuroStoxx 600 rallied on the single currency’s GDP data today, edging higher from a new 5-month low, but London’s FTSE100 fell again, heading for its lowest close since start-April and erasing more than one-third of the spring’s rebound from the first-wave Covid Crash.

Silver rallied with gold prices, halving the week’s earlier 8% plunge to reach $23.73 per ounce, but industrial commodities slipped […]

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