Gold Prices Hit by Renewed Bets on Higher Yields and Stronger Dollar

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Inflation retains surging to multiyear highs, but gold can’t catch a break.Essentially the most actively traded gold futures contract has fallen $79.90, or 4.4%, to $1,727.40 troy ounce in July, on tempo for its fourth consecutive month of decline. That will be the longest dropping streak for gold since November 2020, after recent indicators of accelerating inflation spurred bets that the Federal Reserve will act aggressively to tame inflation. 

Many anticipate gold to bolster their portfolios towards inflation, but it surely has fallen 5.5% this 12 months. The S&P 500 is off about 17% in 2022.  

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