Top Stories This Week: Gold Recovers After Big Price Drop, Norway Rare Earths Discovery Makes Waves
The gold price has yet to fully recover after falling off a cliff on June 7. Last week's steep drop below US$2,300 per ounce was a double-whammy — US jobs data came in stronger than expected, while news hit that China's central bank didn't add to its gold reserves in May. Gold got back above US$2,300 this week, but faced ups and downs, especially on Wednesday (June 12), which brought the release of new US consumer price index (CPI) numbers, as well as the Federal Reserve's latest meeting. Statistics shared by the Department of Labor show that the CPI rose 3.3 percent year-on-year in May, lower...