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Gold Set for Best Month in Four Years After Record-Breaking Gain

From bnnbloomberg.ca

Gold is set for the biggest monthly gain in more than four years after a weaker dollar and low rates fueled its surge to a record. Silver headed for its best month since 1979. Spot bullion is up 10% in July as a gauge of the dollar slumped, prompting concerns its status as the world’s reserve currency of choice is at risk, and U.S. real yields fell to a record low. While the ferocity of gold’s rally cooled as the week wore on, it’s less than $20 shy of its all-time high and most market watchers predict there may be more gains ahead. The metal has surged almost 30% in 2020, putting it on track for the biggest annual ... (full story)

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  • Category: Fundamental Analysis