Gold Price News By Adrian Ash – Wednesday 20th November 2024
The PRICE of GOLD rose again to 7-session highs on Wednesday, recovering almost half of its Trump Slump since the US election as Ukraine struck Russia with UK-made missiles despite the Kremlin's latest nuclear saber-rattling while Western stock market fell ahead of Q3 earnings report from giant AI chipmaker Nvidia.
Having tripled so far in 2024, Nvidia's share price (Nasdaq: NVDA) slipped 1.5% while the MSCI World Index of developed-market equities lost 0.5% with its 5th drop in 7 sessions.
Last month's historic surge – setting 14 new daily record gold price highs in Euros and UK Pounds, and taking the month-average Dollar price in real terms within 1% of January 1980's all-time high – saw Swiss bullion refineries ship metal into gold's central trading and storage hub of London at the fastest pace since June 2021, new data showed today.
Separate data show gold holdings in London's commercial vaults grew by 1.2% last month from September's 4-year low to reach 3,352 tonnes.
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