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Same Fear, Different Fallout: Oil and Gold's Diverging Collapse
Gold and oil spent five months moving like they were tied to the same rope. Both caught a bid from fear that war between the United States and Iran would spiral into something markets couldn’t quite price, and both are unwinding that trade in the same quarter. Look closer, though, and the two collapses have stopped sharing a cause. Gold fell for a third straight session Wednesday, dropping to $3,983.07 an ounce and touching its lowest level since November. The metal sank roughly 14% in the second quarter, its steepest quarterly decline since 2013, a jarring reversal for an asset that hit a record above $5,600 an ... (full story)
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From brecorder.com | 19 hr ago
Gold prices extended gains on Thursday, after hitting a more than one-week high in the previous session, as investors took stock of softer-than-expected jobs data, while lower oil prices lent additional support to bullion. Spot gold rose 0.8% to $4,063.56 per ounce, as of 0103 GMT, after rising to as much as $4,114.99 per ounce on Wednesday, its highest ...
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