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Why Does Gold Continue to Fall Even After the U.S.-Iran Memorandum is Signed?
Gold has been in the red
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Gold has been in the red for the third consecutive week, dropping below $4,200 per ounce, losing 0.5% today after a 1.1% decline on Thursday. Since pre-war levels in February, the metal has already lost about 22%, and the logic behind this decline persists even after the signing of the Iran agreement.The paradox of gold in this war is well known and has not gone away. The opening of the Strait of Hormuz has a dual effect on the metal.
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Miroslaw Bawulski,
Analytical expert of InstaForex
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Maxim Magdalinin
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