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Gold eyes record highs as traditional headwinds mysteriously subside
It’s hard not to like gold in an environment of heightened geopolitical tension, soaring government budget deficits and elevated mining costs, potentially limiting supply from marginal producers. And when you consider how strong the US dollar is right now, with bond yields hitting levels not seen since before the global financial crisis, it comes as no surprise traders are pondering whether gold is destined for record highs given it’s performing so strongly at a time when it would traditionally be struggling. It’s already hit record territory against the Japanese yen, Australian dollars, euros, Chinese yuan and ... (full story)