Gold prices have been hovering around a 5-year high and investors remain bullish on the commodity as political turmoil and economic unrest may require some of the central banks to increase reserves in light of recession fears. In the USA, some of the early indications of a recession are a rise in unemployment and increased mortgage foreclosures. In Canada, the Bank of Canada is combating inflation by lowering lending rates for consumers and increasing borrowing rates for capital projects. Let’s take a look at Spot Gold price throughout the year to see if there is any correlation between spot gold price and future economic turmoil.
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