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The gold market is setting fresh session highs ahead of the weekend after the latest data showed consumer sentiment in the U.S. declining, while inflation expectations ticked lower.
Gold has fundamentally shifted from a speculative trade to a tier-one monetary asset following the global implementation of Basel III ‘Endgame’ banking rules earlier this year, setting the stage for a long-term move to $10,000 an ounce, according to Edward Dowd. Dowd, a founding partner of Phinance Technologies and former BlackRock portfolio manager, told Kitco […]
After weeks of defined and directional price action, gold prices bounced around in their elevated range as traders looked past much of the data to next week’s Fed rate decision.
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