Gold Prices Continue Northward Journey On Weak Dollar, Cryptocurrency Crash: CARE Ratings

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CARE Ratings Research Report

International gold prices rose unabated for the third consecutive month and even reached their four-month high in May 2021.

At $1,852 per troy ounce, gold enjoyed its highest valuation since January 2021 and prices were sharply higher than the monthly average of $1,761 per troy ounce for the preceding month of April.

The month of May saw gold regaining strength following growing inflationary fears, a weak U.S. dollar and the cryptocurrency crash of May 19, 2021.

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