The Case For Gold, According To Goldman

The Case For Gold, According To Goldman

Gold came into this month licking its wounds after a truly rough November, during which everyone's favorite shiny paperweight fell more than 3%. That loss - one of the worst in years - was largely attributable to a 3.6% plunge on the first week of the month, when bond yields surged amid rapidly proliferating trade optimism. The early November pro-cyclical rotation was reminiscent of the first week of September, when yields snapped back from the August lows. As we wrote a couple of weeks back,
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