image credit: Pxhere

Gold price declines, on the verge of snapping 9-session win streak

July 30, 2020

Gold prices headed slightly lower Thursday morning, retreating from a record rally that has seen the precious metal notch nine consecutive days of gains.

Bullion prices were supported Wednesday following the Federal Reserve signaling that it planned to keep the low interest rate environment in place for the foreseeable future as the U.S. economy recovers from COVID-19. Benchmark federal-funds futures rates stand at a range between 0% and 0.25%.

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