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Gold pullback likely temporary amid rising stocks, crypto, and dollar – WGC
The gold rally has been on hold since the re-election of Donald Trump, with the yellow metal retesting support at $2,600 as traders take profits and rotate into stocks and cryptos. But with multiple headwinds still facing the global economy, analysts at the World Gold Council think the pullback is only temporary. “The first week of November saw gold move lower after hitting a new all-time-high on the first of the month,” World Gold Council analysts wrote in their latest commentary. table “According to our Gold Return Attribution Model (GRAM), gold was pressured lower by strength in the US dollar and momentum ... (full story)