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Update XAUUSD
Spot gold prices continue to rise as the US dollar weakens, making it more affordable for holders of other currencies to purchase gold.
Meanwhile, crude oil prices unexpectedly surged to $70 per barrel, adding upward momentum to gold’s price trend.
Another contributing factor is the announcement of martial law in South Korea. This has sparked concerns among financial investors about potential instability in the country, which could impact commodity prices and international currency markets. Consequently, many have increased their gold purchases as a safe-haven asset. These factors are fueling gold prices to climb further today.
Meanwhile, crude oil prices unexpectedly surged to $70 per barrel, adding upward momentum to gold’s price trend.
Another contributing factor is the announcement of martial law in South Korea. This has sparked concerns among financial investors about potential instability in the country, which could impact commodity prices and international currency markets. Consequently, many have increased their gold purchases as a safe-haven asset. These factors are fueling gold prices to climb further today.
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