Gold Rebounds After Sharp Selloff
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Gold prices rebounded over 3% to approximately $4,820 per ounce after a significant selloff. The previous decline of nearly 5% was influenced by President Trump's nomination of Kevin Warsh for the Federal Reserve Chair, raising concerns about tighter monetary policy. Despite volatility, strong central bank purchases and a shift towards physical assets amid fiscal concerns supported gold's value. Global uncertainty and worries about the Federal Reserve's independence further enhanced gold's status as a safe-haven asset.
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