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Gold heads for best year in a decade with dollar on the ropes

Section: Daily Dispatches

From Bloomberg News
Wednesday, December 30, 2020

Gold is poised to cap the biggest annual advance in a decade after a tumultuous year, with gains this month aided by the dollar's decline to the lowest level since April 2018. Silver has surged almost 50% in 2020.

Bullion hit a record in August as investors sought haven assets amid the pandemic. The surge was buttressed by unprecedented waves of stimulus, including from the Federal Reserve, which fanned concerns of currency debasement. Holdings in bullion-backed exchange-traded funds set an all-time high in October, although they hae since ebbed with the roll-out of vaccines. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2020-12-31/gold-heads-for-best-y...



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