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Gold’s haven appeal burnished by drumbeat of growth warnings

Gold could be heading for another rally, with warnings over a global economic slowdown paving the way for a fresh push toward $2 000/oz.

A potent mix of decades-high inflation, geopolitical turmoil and growing talk of recession should be bullish for the traditional haven, according to speakers interviewed ahead of a precious metals conference in Singapore this week.

Bullion is down about 10% from a peak in mid-March, after the concerns that Russia’s invasion of Ukraine might sprawl into a broader conflict dissipated. But with top banking executives now warning about fresh economic shocks, the situation is ripe for stagflation, which would be bullish for gold.

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