Tag
GOLD
The 36-year-old entrepreneur believed to be worth $104 billion, keeps just $2.3 billion in cash (about 4.4 % of his net wealth).
At about 6.30 am, WAT (West African Time) Gold Futures traded at $1,841/ounce showing a gain of 0.20%.
The strong rebound in the precious metal market is largely attributed to the new COVID-19 pandemic-related restrictions taking its stronghold globally.
Gold futures contract gained about 3% W/W, as it turned out to be the yellow metal's best week since the week ended October 30.
Gold futures prices dropped 0.32% at $1,813/ounce, though it's now trading above the $1,800 mark.
For the month of November, the precious metal lost for the third consecutive week, dropping 6% in value month to date.
Binance has given key insights on why the odds are with the flagship crypto, Bitcoin in edging gold.
Gold futures lost about 1.3% to close at $1,1781.90/ounce, dropping as low as$1,770.65, a price not seen since June 22.
Gold bulls are presently nursing their wounds amid the sharp drop seen lately in gold prices
For the week, it lost 3.4%, its highest for a week since late September.
At about 10.05 am Nigerian time on Tuesday, November 10, Gold futures were up 1.69% at $1885.60.
Gold futures traded at $1,890/ounce, losing over 3% in value after trading as high as $1966/ounce on Monday morning.