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Gold and silver holding their ground as headwinds rage: Saxo Bank
Although the gold market continues to grind in a narrow trading range, one bank remains impressed with its relative strength even as it prepares to end February with a slight loss. Ole Hansen, head of commodity strategy at Saxo Bank, said that gold has held up well, given the headwinds it has faced since the start of the year. Spot gold is currently trading around $2,033 an ounce, down only $6 from January’s closing price, even as U.S. 10-year bond yields hold near a two-month high. “Despite the rising 'cost' of holding a non-interest paying gold position and the market's current obsession with AI-related stocks ... (full story)