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Home Gold News Record Highs for World Shares, Gold, and Copper Amid Optimistic Market Sentiment

Record Highs for World Shares, Gold, and Copper Amid Optimistic Market Sentiment

by anna

Global shares, gold, and copper began the week near record highs, driven by investor optimism stemming from slower inflation, economic growth, and proactive measures by China to tackle its property crisis.

Gold surged over 1%, reaching a record $2,449.89 per ounce. Simultaneously, three-month copper on the London Metal Exchange soared by 4.1% to an unprecedented $11,104.50, marking a 28% increase this year.

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Analysts at Rabobank highlighted the concurrent rallies in gold and copper, noting their usual divergent signals. Copper, essential for industrial uses, often reflects economic health, while gold indicates broader market sentiment. They attributed these movements partly to central banks shifting towards bullion and possibly to households reallocating savings from stocks to commodities.

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China’s Influence and Central Bank Policies
China’s recent actions have also influenced these markets. On Friday, China announced “historic” measures to stabilize its property sector, including 1 trillion yuan ($138 billion) in additional funding and local governments purchasing apartments. Additionally, Beijing maintained its benchmark rates on Monday, as anticipated.

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