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Gold has had a massive run, and a short-term correction wouldn’t be surprising. The biggest risk right now is the Federal Reserve turning more hawkish than the market expects. With Powell’s term ending soon and uncertainty around who comes next, interest rates could stay higher for longer. Even so, the long-term picture hasn’t changed. The U.S. is spending nearly a trillion dollars a year just on interest, the debt isn’t slowing down, and nothing meaningful has been done to fix it. A pullback he
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