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A Golden Year: Gold's Price Surge in 2025 - Macro Signal or Pricing Noise?
In 2025, as stock and bond markets climbed walls of worry nonchalantly to set new highs, gold has had a banner year, climbing 57% in the first ten months of the year. In this session, I try to examine what it is about gold that gives it its value and longevity. I look at the price of gold over time, to identify its drivers, and argue that while ...
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