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NEW YORK SPOT METAL PRICES

October 27, 2023

Gold closed above $2,000 for the first time since May as recession fears resurfaced amid less-than-stellar earnings from Wall Street and worries about declining Q4 GDP. The S&P 500 shed 0.5% Friday to enter correction territory, down 10.3% from this year’s high in July. Metals and equities moved in tandem over the past few years, but this week showed a divergence from that trend as escalating tensions in the Middle East and increasing recession worries at home have revitalized their appeal as haven assets.