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Macroeconomic Prospects and the Price of Gold

September is typically a seasonally strong month for gold . . . but the markets have once again surprised gold optimists with another breakdown in the yellow metal’s price.  Contributing to gold’s September price retreat has been a modest appreciation of the U.S. dollar vis-à-vis the British pound and other European currencies.  This episode of dollar strength – and gold-price weakness – has been driven my several factors: For one thing, rising expectations among some currency traders that Scotland might vote to separate from the United Kingdom when the Scots go to the polls later this ...