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It’s been another impressive week for the yellow metal which has broken out to new all-time highs.
The continued sell-off in the US dollar is helping to keep gold prices well supported. So too are the ongoing concerns over the growing risks of a second wave of the COVID-19 virus.
Last week, the Fed highly emphasized the great deal of uncertainty within its outlook for the economy. The US central bank sought to reassure markets that it stands ready and willing to act further if necessary.
In addition, in light of the increasing number of states returning lockdown there, the market widely expected further easing this year. With US rate expectations anchored firmly to the downside, gold has plenty of room to appreciate further given the extremely subdued inflation environment.
The COVID-19 landscape is darkened further this week. More countries are reporting an increase in the death toll as well as fresh actions to combat the spread of the virus.
So far, it looks unlikely that we wil...
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