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The gold market is seeing some durability in the industry after costs have managed to jump off Wednesday's one-month low.
In a meeting with Kitco Information, George Gero, taking care of supervisor at RBC Riches Administration, stated that he is not amazed that gold is locating some sticky support as the rare-earth element is a safe-haven asset on several fronts. He kept in mind that gold is currently a bush versus geopolitical agitation, currency decrease, an adjustment in equity markets as well as of course rising inflation.
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Don’t count out gold just yet – RBC’s George Gero
The gold market is seeing some resilience in the marketplace after prices have managed to bounce off Wednesday’s one-month low.
In an interview with Kitco News, George Gero, managing director at RBC Wealth Management, said that he is not surprised that gold is finding some sticky support as the precious metal is a safe-haven asset on many different fronts. He noted that gold is currently a hedge against geopolitical unrest, currency devaluation, a correction in equity markets and of course rising inflation.
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