Gold smashes records but price easing expected in near term: market watchers
Markets wait and see if gold can remain above US$3,000 level
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[SINGAPORE] Gold prices are expected to consolidate in the near term after breaking record highs earlier this week, said market watchers.
Spot gold prices surged to a record high of US$3,034.74 per ounce on Wednesday (Mar 19), after breaching the US$3,000 mark the previous day.
The prices eased to around US$3,030 by 3.28 pm on Friday, a 37.3 per cent increase from the spot price a year ago, and a 22.2 per cent rise year to date.
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