Gold Prices Up on Inflation and Economic Uncertainty Despite Recent Volatility
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Gold and silver prices remain in a long-term uptrend despite recent volatility, as inflation is still high and monetary policy remains aggressive.
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There is support around $2,350, $2,285, and $2,150 an ounce if gold prices correct lower, but trying to time entries is difficult.
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Gold is an attractive hedge against financial and geopolitical risks even with higher bond yields, according to analysts and economists.
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Central banks and China continue purchasing gold, while generalist investors have yet to jump back into the gold market.
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The factors driving the gold rally like inflation, aggressive Fed policy, rising debt levels, and economic uncertainty remain firmly in place.