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Strong demand is also helping gold. Demand for gold assets have surged this year. For instance, ETF flows into gold have expanded at their fastest pace since 2009.
The pound has been the worst performing asset since the U.K.’s decision to leave the E.U., and the majority of analysts who’ve changed their forecasts since the referendum results are now projecting the currency to remain depressed.
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SPDR Gold Shares
Tom Lydon’s clients own shares of GLD.