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Gold is doing something it hasn’t since 2011 – CNBC

January 18
15:47 2017

The popular gold-tracking GLD ETF has risen in 13 of the past 15 sessions through Tuesday, the first time it has done so since summer of 2011.

Gold has suffered a precipitous drop since peaking in mid-2016, with Donald Trump’s election and the Federal Reserve’s rate hike serving as two notable bearish catalysts. Each of the events sent the dollar surging and yields rising — both of which are bad news for gold. After peaking at nearly $1,380 per troy ounce in July, gold found itself below $1,130 per troy ounce in the middle of December.

Since then, gold has staged a subdued but nonetheless persistent rise. In the 15 sessions since Dec. 22, gold has risen more than 7 percent.

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