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Gold prices soar, near 8-year high

gold prices

(CNN) -- Gold prices are soaring and could pass the all-time high of $1,900 an ounce.

In March, the prices dipped along with the rest of the market because of coronavirus fears. But now, gold prices are up nearly 15 percent in 2020.

Gold is currently trading around $1,750 per ounce, a nearly eight-year high.

The Federal Reserve has cut interest rates to zero which has helped push gold higher.

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