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October’s Gold Rally Pushes the Metal Past Stocks
The S&P 500 falling into correction territory has allowed gold to prosper amid a safe haven scramble as higher-for-longer interest rates and geopolitical risks continue to keep investors on edge. [The precious metal] is officially outperforming the S&P 500 stock index in 2023 due to an October rally that has brought the price of an ounce of the yellow metal to the cusp of the $2,000 mark, a level it hasn’t seen since May,” reported MarketWatch. The bottom hasn’t quite fallen out of stocks. Some analysts note that the recent stock sell-off hasn’t quite been fast and furious, but more of a slow roll. ... (full story)