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Bitcoin up, gold down ... why is gold plummeting? ...Middle East
Bitcoin is soaring while gold slumps. The thing about moves of this magnitude is there are always stories about for 'why' this is happening. A fancier term is narrative. There are often multiple, sometimes even conflicting narratives. Here's my narrative for why gold is falling. The metal saw its biggest price drop in 3+ years:the strong post-election U.S. dollar is a factorpolitical uncertainty had been supportive, but this has been been removed after the US election, a solid win for TrumpRepublican majority in Congress is expected, giving Trump a clearer path to push his agendas though Fed rate cuts, and more to come, are supportive for gold - but expectations of future cuts have been trim
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