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Gold is back – and it has a message for us

The precious metal’s surge may herald a whole new world.

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Gold prices have hit a high and it has hurt footfall at jewellers. Mr Arun of Abiraame Jewellers shows a customer some of the gold jewellery at his shop in Little India on 24 Oct 2019.

Gold prices have hit a high, and it has hurt footfall at jewellers.

PHOTO: ST FILE

Rana Foroohar

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It’s easy to mock gold bugs, but their moment may finally have come. The precious metal has been

breaking out recently amid higher than expected inflation

in the US, and

general anxiety over everything

from geopolitics to the November presidential elections to where monetary policy and markets go from here.

All these things are predictable reasons for gold to surge. But there are deeper, longer-term messages in this rise that investors should pay very close attention to.

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