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.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
Twitter
LinkedIn
KEFI Gold and Copper

More articles like this

KEFI Gold and Copper

Tulu Kapi stakeholders commit to proceed with project development

Following meetings with senior representatives of stakeholders for aim-listed Kefi Gold and Copper’s Tulu Kapi gold project, in Ethiopia, at this year’s Investing in African Mining Indaba, all parties in the funding syndicate for the project will go to their respective committees this month to

KEFI Gold and Copper

KEFI discovers new high-grade Gold Deposit in Saudi Arabia

Aim-listed Kefi Gold and Copper has confirmed a new discovery, as well as provided an operational update for the Jibal Qutman gold project in Saudi Arabia in the company’s minority-owned Gold and Minerals (GMCO) joint venture (JV). A satellite deposit, Asfingia, was discovered with “excellent”

KEFI Gold and Copper

KEFI: An early mover in the Arabian-Nubian Shield

Entered Arabian-Nubian Shield 2008 Focused on Saudi Arabia and Ethiopia SAUDI ARABIA ▪ 2008 JV with Al Rashid Family Office▪ Largest explorer before recent arrivals▪ 2 discoveries – advancing towards final feasibility:▪ Hawaih (copper & gold)

KEFI Gold and Copper

Safe-haven demand spurs gold prices’ rebound

Gold prices in Monday’s Asian trading showed a notable increase. Spot gold rose 0.2 percent, reaching $2,053.88 per ounce, while gold futures for February climbed by 0.3 percent to $2,057.85 per ounce. These figures are as

KEFI Gold and Copper

Gold prices edge higher on softer dollar

Gold prices edged higher on Tuesday, supported by a pullback in the dollar after an official U.S. report citing consumers expect lower inflation cemented bets for interest rate cuts from the Federal Reserve. Spot gold XAU= was up