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Gold Rebounds as Improving Economy May Boost Demand for an Inflation Hedge
Jun. 14, 2011 07:13PM PST
Precious MetalsBloomberg reported that signs of a strengthening economy and possible inflation caused gold prices to rally.
Bloomberg reported that signs of a strengthening economy and possible inflation caused gold prices to rally.
The market news is quoted as saying:
“Gold is embracing the inflationary discussion,” said Adam Klopfenstein, a senior market strategist at Lind-Waldock in Chicago. “The huge rally in the S&P gave gold the risk-on attitude that it so dearly needed. Gold is acting more as a reflection of the growth element in the economy.”
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