Gold Climbs Back Above $4,000 as European Central Banks Shift Reserves to London
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Gold rebounded above $4,000 on Oct. 26. European central banks shifted gold storage from New York to London. Palladium surged on Norilsk Nickel maintenance news. Max Baecker explained the competing forces affecting gold during geopolitical crises. Goldman Sachs estimated central bank purchases at 79 tonnes in August, four times pre-2022 levels.
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