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"Rate cut trade" and "Trump trade" double blessing: Gold prices approach historic highs.
The market's expectation of a rate cut in September has pushed up the price of gold, while the failed assassination attempt on Trump has further boosted demand for metals as a safe haven.
Are Basic Materials Stocks Lagging Agnico Eagle Mines (AEM) This Year?
Agnico Eagle Mines Limited (AEM) Hit a 52 Week High, Can the Run Continue?
Commodity Roundup: Gold Near Fresh Record High, China Demand Concerns Weigh on Oil
Gold prices extended their rally to Tuesday, trading close to an -all-time high amid rising hopes that the Federal Reserve would cut interest rates by the end of the year, while oil prices ticked lower on lingering demand concerns.
MetalsFocus: The US dollar is expected to continue to remain strong, and precious metals prices may retreat moderately during the summer.
MetalsFocus pointed out that due to the interest rate differential still benefiting the US dollar, the US dollar is expected to continue to remain strong in the near future. In addition, considering the relatively fast rise in precious metal prices over the past three months, precious metal prices may experience a moderate pullback during the summer.
Agnico Eagle Boosts Stake in First Nordic Metals to 13.25% Following $8.18-Million Private Placement
Agnico Eagle Mines (AEM.TO, AEM) edged down in after-hours New York trading after the company on Monday said it is boosting its stake in First Nordic Metals (FNM.V) to 13.25% from 0.75% with a $8.18-