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Gold Hits Record Highs As Macro Backdrop Shifts
Gold bulls are celebrating today as the safe-haven asset breaks out to fresh all-time highs. The futures market has ballooned higher once again this week driven higher this week by dovish Fed expectations and the higher perceived likelihood of Trump winning the elections on the back of his assassination attempt this weekend. The futures market is higher by around 3.5% this week, now up almost 9% from the June lows and looks poised for further gains while the current backdrop persists. Speaking this week, Fed chairman Powell noted that the Fed once again had full confidence that inflation was heading back to target on ... (full story)
