Demand for the precious metal, which is considered a safe haven in times of financial or political turmoil, has been growing Gold prices have been hovering near record highs this week on renewed investor concerns of a deepening US financial crisis and the possibility of a recession this year. According to JPMorgan strategists, cited by Bloomberg on Friday, the so-called ‘long duration’ trade, which is expressed by being overweight on gold and growth stocks, “seems to have become a consensus” in recent months. “The US banking crisis has increased the demand for gold as a proxy for lower real rates as well as a hed
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