A correction won’t shift momentum in gold and silver
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Gold and silver face selling pressure ahead of Labor Day; gold reached all-time highs above $2,500 an ounce; U.S. dollar index dropped to lowest since mid-July 2023 at 100.50; U.S. dollar index down 5% in two months; Federal Reserve expected to cut rates by 25 basis points with 30% chance of 50 basis points; U.S. economy grew by 3.0% in Q2 2023; inflation data shows subdued consumer prices; next week's employment data crucial for Federal Reserve's easing cycle; long-term uptrend for gold remains despite volatility; geopolitical uncertainty and growing government debt support gold's safe-haven status.
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https://www.kitco.com/news/article/2024-08-30/correction-wont-shift-momentum-gold-and-silver