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Gold Shows Resilience Despite Market Pressure
Gold's fate has turned out to
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Gold's fate has turned out to be far less dramatic than one might have expected. History shows that at the beginning of Federal Reserve monetary tightening cycles, the precious metal usually declines, but then recovers as concerns grow that high interest rates will significantly slow GDP growth. They may even push the economy into recession. This time, monetary policy tightening is accompanied by the highest Treasury yields in two decades. Yet XAU/USD is holding up.As a rule, rising bond-market yields
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