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Will FOMO dominate the gold market? This sets the stage for $3k gold price: Bloomberg Intelligence
FOMO — the fear of missing out — could come to dominate the gold market as an economic slowdown in the second half of the year triggers a selloff in the stock market and a move towards $3,000 an ounce in gold, said Bloomberg Intelligence. "Central-bank accumulation and the potential for a global economic slowdown, on the back of the most aggressive rate-hike period ever, may set the stage for gold to move toward $3,000 an ounce," said Bloomberg Intelligence senior macro strategist Mike McGlone said in a report Tuesday. One primary driver keeping the Federal Reserve hawkish is a strong stock market. This is what ... (full story)