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The gold price on Friday plummeted to a new 5-week low of about $2,311 following the latest round of US data. The XAU/USD appears to be trading within a sharply descending channel formation in the 60-minute chart. Gold has now descended to trade several levels below the 100-hour moving average line. As a result, the yellow metal has fallen into the oversold ...
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Here’s what I wrote: In general, gold behaves like a very-long-duration inflation-linked bond with a zero coupon. This makes sense – if we were to issue a bond that, in exchange for the current gold price, offered to pay the bearer no coupons but redeem for 1 ounce of gold in 100 years, it would have the same payoff as holding one ounce of physical gold for ...