Gold shouldn’t be expensive to own

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Gold closed July with its first monthly gain since February. Traders are now handicapping a possible Fed hike in September, which means the cost of holding a non-yielding asset is about to get quoted back to investors in real numbers.

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Futures Erase Overnight Gains As Oil Hits One-Week High, Yen Slides

“With earnings largely in the rear-view mirror, geopolitics — and particularly Iran’s impact on oil prices and inflation expectations — should move back to the forefront. We are focused on Wednesday’s US CPI print as a key test of the ongoing disinflationary process.”


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