Gold: Prices surge after slump – Deutsche Bank

FXStreet Insights Team FXStreet

Deutsche Bank's Macro Strategy report highlights a significant recovery in Gold prices, which posted their largest daily gain since 2008. Gold rose by 6.12% to $4,947/oz, with further increases noted overnight. The report indicates that dip buyers are returning to the market following a substantial slump in precious metals.

Gold prices show signs of recovery

"In fact, gold prices (+6.12%) posted their biggest daily gain since 2008, moving up to $4,947/oz, whilst silver (+7.43 %) was back up to $85.16/oz."

"Clearly they’re still a long way from the highs, but it was clear that dip buyers were coming back in after the biggest slump in decades."

"And that trend has continued overnight, with gold (+2.72%) now back up to $5,081/oz."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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