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What’s behind gold’s March rally?
The gold price has shot up since the end of February, with the LBMA Gold Price PM trading at US$2,180.45/oz as of 11 March – a 6.5% increase m-t-d. Gold has reached consecutive record highs six days in a row and flirted with US$2,200/oz last Friday (8 March) in intra-day trading. chart Gold’s sharp increase has since caught the attention of market participants. The initial trigger was linked to a weak ISM print in the US on 1 March,2 pushing bond yields and the US dollar down. But that can only explain so much, so what’s behind gold’s move since? Our analysis, using a weekly version of our Gold Return ... (full story)