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Gold Leads as Faith in Fiat Falters
In September, spot gold increased $411.01 per ounce (or 11.92%) to close the month at $3,858.96, an all-time closing high. At the end of September, gold was 47.04% higher than at the start of the year, its best year-to-date performance since 1979. Gold is well on its way to being one of the best-performing asset classes for a second straight year. In the third quarter, spot gold rose $555.82 per ounce (or 16.83%), another exceptional quarterly performance. Gold broke out of its bullish flag (see Figure 1) and steadily extended its record-setting breakout throughout September. The initial price breakout catalyst was ... (full story)
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