Gold Prices Rise as Oil Prices Fall
Listen to the story
Gold prices went up this week. Silver prices went up too.
Oil prices became lower. This made people less worried about inflation.
Inflation means prices for things go up. When oil is cheap, other prices often stay low too.
Lower oil prices came from talks between Iran and other countries. These talks are called diplomacy.
The US dollar became weaker. When the dollar is weak, gold often becomes more popular.
People now want to see new information about US inflation.
They also want to see information about US jobs.
Last week, gold prices fell a little. This happened after new US jobs data came out.
The jobs data made people think the US might raise interest rates in December.
Interest rates are the cost of borrowing money. Higher rates can make gold less attractive.
Many investors buy gold when they worry about the economy.
Gold is often called a safe asset. This means people trust it in hard times.
This week, good news about oil helped gold prices go up again.
Markets are now watching new US economic reports closely.
Vocabulary7 words
- Gold
- a shiny yellow metal people buy to keep money safe
- Silver
- a shiny white metal like gold, also bought for money safety
- inflation
- when prices for things go up over time
- diplomacy
- talking between countries to solve problems
- US dollar
- the money used in the United States
- interest rates
- the cost of borrowing money
- safe asset
- something people buy because they trust it will keep value
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Quiz
Answer key
1. Oil prices became lower 2. Talks between Iran and other countries 3. US inflation and jobs data
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Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
_____ prices went up this week.
_____ prices went up too.
Oil prices became _____.
This made people less worried about _____.
Lower oil prices came from talks between _____ and other countries.
The US _____ became weaker.
People now want to see new information about US _____.
They also want to see information about US _____.
The jobs data made people think the US might raise _____ in December.
Gold is often called a safe _____.
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