Money and business

Gold stabilizes above $4,000… and silver exceeds $50 for the first time


stabilizedIt rose yesterday to its highest level ever at ($4,059.05), an annual increase of (54%), supported by market fears of geopolitical tensions and a slowdown in the global economy.

The US Federal Reserve meeting revealed that the risks facing the labor market justify cutting interest rates, while markets expect an additional cut of (25) basis points in October and December by (95%) and (80%), respectively.

Among other precious metals, platinum fell (0.2%) to (1659.10) dollars, while palladium rose (1.8%) to (1476.24) dollars.

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