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01/24/2021

Liberty Pulse

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Gold Surges to Four-Month High on Demand for Currency Hedge

1 min read

Gold Surges to Four-Month High on Demand for Currency Hedge

April 9 (Bloomberg) — Gold climbed to the highest price since December as investors sought an alternative to holding currencies.

The dollar fell as much as 0.8 percent against a basket of six major currencies. The euro headed for a weekly loss against the greenback on mounting speculation that Greece will default on its debt. Gold priced in euros and Swiss francs reached all- time highs. Investment in the SPDR Gold Trust, the biggest exchange-traded fund backed by bullion, climbed to a record.

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