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Gold inches closer to a record high, buoyed by recession fears and weaker U.S. dollar

Gold futures marked their highest settlement since August 2020 on Thursday while flirting with a new record, and silver prices finished the session at their highest in more than a year.

Overall weakness in the U.S. dollar, banking-sector issues and worries surrounding a potential recession boosted haven demand for the precious metals.

Price action

Market drivers

“The…

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