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Gold Spikes to Fresh 5 Year Highs, Bitcoin Eyes 10K
Gold continued to rally on Friday, reaching its highest levels since September of 2013 before beating a retreat. The yellow metal powered higher after Wednesday’s FOMC meeting, where the US central bank left interest rates unchanged, but adopted a more dovish stance. The CME Fedwatch Tool currently shows a 100% chance of a rate cut at the July meeting. US Treasuries rallied on the heels of the Fed news, sending yields lower. Bond yields typically fall when investors expect a rate cut. On Thursday, yields on the 10-year US Treasury bond fell below 2% for the first time since late 2016. Analysts attributed the surge ... (full story)
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If you have faith in our leaders of commerce, don't buy gold.