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Gold, Miners Have Surged on the Market Rout—What’s the Upside?

Annie Gilroy
Gold, Miners Have Surged on the Market Rout—What’s the Upside?

Gold prices have failed to draw a bid in 2018 despite many market uncertainties, including trade war tensions, the emerging market (EEM) currency crisis, and other geopolitical concerns. Year-to-date, gold prices have fallen 6.4%, and they’re currently down 9.6% from their April peak. The SPDR Gold Shares ETF (GLD), a proxy for physical gold’s price, rose 2.6% yesterday, bringing gold’s gains in the last three days to ~3.0%.