Gold Retains Hedge Value Against Stock Declines, Says Capgemini Strategist

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According to Capgemini strategist Thomas Mathews, gold remains valuable as a hedge against stock market declines, though its recent performance suggests it is behaving more like a risk asset than a safe haven. The volatility of gold prices has recently matched that of the S&P 500 index. However, the relationship between gold and real bond yields appears intact, and any decline in real yields is expected to support gold prices, according to the report released by Jin10 today (July 21).
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