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Gold’s behaviour points to sustained strong demand
Gold’s strong March rally culminated last week when the yellow metal briefly surged to a fresh record high at USD 2,221 per ounce, after the FOMC stuck to their three rate cut projections for this year, only to suffer another mild round of profit taking as the dollar continued higher. Overall, gold is heading for a March gain around 7% while silver has managed a near 10% rally, both after suffering mild setbacks during January and February when the dollar and US Treasury yields rose in response to traders adjusting inflation expectations higher, and rate cut projections lower. Overall, gold continues to defy the ... (full story)