The U.S. and China are on ‘brink of war’ as gold touches record highs and banking sector troubles intensify ~ May 7, 2023

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Gold’s price action was defined by major volatility this week. Gold Comex futures tested record highs as the banking sector troubles intensified. Markets also dissected Federal Reserve Chair Jerome Powell’s messaging, while Friday’s stronger-than-expected U.S. employment report weighed on gold.  

Here’s a look at Kitco’s top three stories of the week:

3. Comex gold prices test record highs and touch $2,085 an ounce.

2. There’s a new U.S. debt ceiling deadline.

1. Ray Dalio: The U.S. and China are on ‘the brink of an economic resources war’