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A Look Back to What Took Gold to $5,000
With very little emerging news today affecting the gold markets, let us take a look back at the major drivers that brought gold to the precipice of $5,000 per ounce this year and last. Geopolitical instability served as one of the most powerful catalysts driving gold's advance. Escalating tensions in the Middle East — culminating in a direct naval confrontation between U.S. and Iranian forces near the Strait of Hormuz — triggered sharp price spikes as investors sought refuge in hard assets. Simultaneously, the collapse of Ukraine-Russia peace negotiations and the highly controversial U.S. capture of Venezuelan ... (full story)