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As markets digested all of the Federal Reserve’s hawkish signals, gold tumbled $70 from its two-month highs. Here’s a look at Kitco’s top three stories of the week:
3. Fed’s Powell says inflation ‘is slightly worse’ than in December, signals March rate hike.https://www.kitco.com/news/2022-01-26/Gold-price-tumbles-35-as-Fed-s-Powell-says-inflation-is-slightly-worse-than-in-December-signals-March-rate-hike.html
2. The International Monetary Fund cut its global growth outlook for 2022 to 4.4%. The U.S. and China saw the most significant downward revisions. https://www.kitco.com/news/2022-01-25/Fed-in-focus-as-IMF-cuts-U-S-growth-outlook-cites-tighter-monetary-conditions.html
1. Goldman Sachs is long gold. The bank raised its 12-month price forecast to over $2,100 an ounce, advising investors to buy December 2022 gold futures.https://www.kitco.com/news/2022-01-26/Goldman-Sachs-long-Dec-22-gold-sees-prices-rising-to-2-150.html
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