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The article discusses the recent dip in gold prices, attributing it to a stronger US dollar and rising bond yields which have reduced demand for gold as a safe-haven asset. Additionally, the Federal Reserve's hawkish stance on interest rates is expected to continue applying downward pressure on gold prices.
The article discusses how Goldman's analysis likens gold's performance to that of luxury real estate, suggesting that gold's price is influenced more by wealth and investment demand rather than traditional commodity factors. This perspective implies that gold's price may be less sensitive to short-term supply fluctuations and more driven by macroeconomic factors affecting investor behavior.
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