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Gold Climbs 0.7% After Disappointing Economic Data Weakens Dollar

Gold prices surged on Wednesday, June 4th, climbing $23.30 to close at $3,373.50 per ounce – the highest closing level in nearly a month. This 0.7% gain more than made up for Tuesday’s decline and was driven by two key factors: a weakening U.S. dollar (down 0.5%) and disappointing economic data that boosted gold’s appeal as a safe haven investment.

The weak economic news included private sector job growth of only 37,000 in May (far below the expected 115,000), and a surprise contraction in the services sector with the ISM Services PMI falling to 49.9 from 51.6. President Trump responded to the jobs data by calling on Federal Reserve Chair Jerome Powell to lower interest rates, posting on Truth Social that Powell is “Too Late” and “must now LOWER THE RATE.”

Gold Price Correction: Will a Pullback Come Before New Highs?
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Gold Price Correction: Will a Pullback Come Before New Highs?

Gold has surged to record territory, briefly touching $3,700 before pulling back. This milestone, driven by economic fragility, Fed policy shifts, and rising investor anxiety, has many asking: is a correction looming before the next leg up?  With interest rates falling for the first time in years, geopolitical flashpoints multiplying, and global central banks aggressively stockpiling gold, the case for long-term bullishness is strong. But in markets, even the strongest trends pause—and investors need to prepare.  Current Gold Market Landscape  Gold’s recent performance reflects more than just inflation fear — it’s a structural shift in how capital views risk. The

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Why Silver’s 32% YTD Rise Might Just Be the Beginning
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Silver Eyes Record Highs as Fed Signals Cuts

Markets are digesting the Fed’s signal of two rate cuts in 2025, with the dollar swinging, jobless claims dipping, and recession indicators flashing red. Meanwhile, silver is surging — outpacing gold and closing in on record highs. Here’s what today’s key economic news means for precious metals investors.

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