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Gold Heads for Worst Month Since 2008 as Hawkish Fed and a Cooling Rally Bite
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CoinEx News: Gold is heading for its worst month since October 2008, down about 12% in June. A hawkish Federal Reserve (leaning toward keeping rates high) and a stronger dollar are lifting real yields — bond returns after inflation — raising the cost of holding gold. It is also an overheated rally cooling: even after falling about 28% from January's $5,590 record, gold remains well above its level a year ago. Bitcoin is gold's "debasement trade" cousin — both ran up as a hedge against money losing value, and both now face the same real-yield and dollar headwind. A sustained rebound in either needs lower real yields, a weaker dollar, or a less hawkish Fed.

Source: CoinEx

Disclaimer: The current content is provided for reference only and does not constitute any investment advice from CoinEx. The prices of cryptocurrencies are highly volatile, please be aware of the potential risks.

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