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Gold shed nearly $100 in just 24 hours this week, with the precious metal dropping 5% on Thursday. The trigger was the Federal Reserve’s interest rate announcement.
A surprisingly hawkish stance led to some chaotic trading and gold dropped below the $1,800 an ounce.
Here is a look at Kitco’s top three stories of the week:
3. Federal Reserve signals it could raise rates twice in 2023. https://www.kitco.com/news/2021-06-16/Gold-prices-drop-sharply-following-optimistic-Federal-Reserve-that-could-raise-rates-in-2023.html
2. Why is gold down $100 after Fed shakes up markets? https://www.kitco.com/news/2021-06-17/Why-is-gold-down-nearly-100-after-Fed-shakes-up-markets.html
1. ‘Big Short’ investor Michael Burry warns of ‘greatest speculative bubble of all time’ https://www.kitco.com/news/2021-06-16/-Big-Short-investor-Michael-Burry-warns-of-greatest-speculative-bubble-of-all-time.html
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