Gold price jumped to 7-week high

GOLD PRICES jumped to 7-week highs just below $1770 per ounce Thursday afternoon in London after new data showed a record jump in US retail sales coincided with last month’s $1,400 Covid stimulus checks sent to most US adults. 

“Retail sales explode [for] March as consumers use stimulus checks to spend heavily,” says CNBC after the new data showed a record 24.4% year-on-year rise in shopping and food services purchases. 

Gold prices in China had earlier fixed in Shanghai at a premium over London quotes of more than $11.40 per ounce, the highest incentive for new imports to gold’s No.1 consumer nation in 5 weeks.

KEFI Gold & Copper plc (LON:KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.

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