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Gold Surges Again as Shorts Bet Against the Rally
Gold prices (/GCV3) surged over $30 per ounce, or +1.6%, this afternoon as geopolitical fears deepened following mass casualties at a hospital in Gaza. Both sides traded blame for the event, but for financial markets the impact weighed on risk sentiment. That benefited gold prices, which typically react positively to events that stoke the potential for further military intervention. Gold is now on track to record its best monthly performance since March, currently at +5.4%. Meanwhile, gold volatility—via the Chicago Board Options Exchange’s gold volatility index (GVZ), which is like the volatility index (VIX ) ... (full story)