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Gold Forecast: November 2023
That being said, we also need to pay attention to the interest rate markets, because the interest rates have been spiking in the United States, and that does work against gold quite often. That doesn’t necessarily mean that we have to do that same negative correlation at this point, just that the possibility does exist. In fact, it would not surprise me at all to see not only yields go crazy, but the US dollar strengthened, while the gold market will as well, all in a bit of a safety trade. It is worth noting that the mod had been so bullish that one could see a little bit of a pullback at this point, especially as ... (full story)