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Gold is back to soar and recorded a new all-time high
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[QUOTE="FXOchartist, post: 347813, member: 90221"] Gold price surged over $36.52 yesterday with a rise of 1.58% from $2306 to a high of $2346 by forming a long-body bullish candlestick without a shadow. Some reasons for the rising gold prices include several global central banks finally continuing to cut interest rates. In Sweden, the Riksbank took steps to reduce interest rates by 0.25% to 3.75%. The Bank of England meeting showed an increasing willingness to lower interest rates. The Swiss National Bank (SNB) lowered interest rates at its March meeting, the RBA's dovish policy and the European Central Bank (ECB) has guaranteed it will cut interest rates in June. Geopolitical tensions are also a concern for traders, the Israeli attack on Rafah shows the need for a ceasefire so that the war continues. Elsewhere the Ukraine vs Russia war adds further pressure on the risk side. Also, Chinese data showed China's exports rose more than forecast at an annualized 1.5% in April, recovering from a 7.5% decline in the previous month. [ATTACH type="full"]60907[/ATTACH] [/QUOTE]
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Gold is back to soar and recorded a new all-time high
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