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Gold has new momentum as its utility grows in global trade - Franklin Templeton’s Steve Land
The Federal Reserve’s reluctance to cut interest rates as inflation fears remain is creating some volatility in the precious metals market; however, gold’s growing utility as a monetary asset continues to provide long-term support for prices, according to one fund manager. In an interview with Kitco News Wednesday, Steve Land, lead portfolio manager of Franklin Templeton’s Franklin Gold and Precious Metals Fund, said that while he doesn’t see the world going back to a gold standard or the U.S. dollar losing its reserve currency status, he does see growing use of gold to settle international trade. “When you ... (full story)