What’s Different About This Year? Gold had a heck of a rally in 2024, surging more than 27%. That’s a blistering pace for any asset, even one as resilient as gold. But recent months have seen that momentum cool off. November and December were lackluster, thanks in large part to the aftermath of the U.S. election and the Federal Reserve’s shifting outlook on interest rates. The strong dollar has also thrown a wet blanket on gold prices. Typically, gold and the dollar move in opposite directions—when one’s up, the other’s down. But lately, the dollar has been flexing its muscles, holding gold in check. And here’s the kicker: Gold just dipped below its 100-day moving average for the first time…
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