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Gold Rises From Two-Year Low as US Dollar’s Steep Increase Stalls

From bnnbloomberg.ca

Gold rose from its lowest level in more than two years, as the dollar eased back after hitting a fresh record. The dollar’s advance stalled on Tuesday, providing relief for the non-interest bearing metal. While gold is seen as a traditional haven in times of economic distress, fears of a global recession stoked by central banks’ monetary tightening has instead triggered big gains in the greenback. The fall in other major currencies including the pound and yen could continue weighing on commodities priced in the dollar. The markets for energy and raw materials have also taken a hit as key gauge Bloomberg Commodity ... (full story)

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