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Gold has fallen below $1,800 an ounce, extending a multi-month decline from June highs. This comes as the price rebounded from August lows of $1,720 an ounce to breach $1,800 earlier this week.
Phil Streible, chief market strategist of Blue Line Futures, told David Lin, anchor for Kitco News, that economic conditions have not been favorable for a gold price rally; what the metal needs is low growth and high levels of inflation, or stagflation.
0:00 – Gold’s drop
5:22 – Stagflation and deflation
9:12 – Jackson Hole
10:20 – Gold price outlook
12:44 – Silver
14:33 – Oil
#gold #silver #oil
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