The Price of Gold Rises on Favorable Indicators
FinancialBuzz.com News Commentary
NEW YORK, April 9, 2021 /PRNewswire/ The gold price grew to cross the USD 1,750 an ounce mark on Thursday on several indicators that the yellow metal is once again in demand as a safe haven asset. According to a report by Kitco, after a pause in central bank gold buying last year, there are signs that demand for gold grows as Hungary tripled its gold reserves. Hungary s central bank increased its gold reserves to 94.5 metric tons from 31.5 tons, citing long-term national and economic policy strategy objectives. This marked one of the most significant central bank gold purchases in decades. Exploits Discovery Corp. (CSE: NFLD) (OTC: RNRRF), NovaGold Resources Inc. (NYSE: NG), McEwen Mining Inc. (NYSE: MUX), Equinox Gold Corp. (NYSE: EQX), Gold Fields Ltd. (NYSE: GFI)
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