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A new gold rush

FT News Briefing

The US Banking Turbulence Drives Gold Prices Higher

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Central bank reserve managers around the world have seen what's happened. And they're thinking, wow, we need to reduce our dependence on the US dollar and diversify our reverse holdings. Gold is the perfect thing to do that, because you look around and the euro, as another fiat currency holds the same risks. Apple has been under fire for relying too much on Chinese manufacturers. The iPhone maker announced a multi-billion dollar deal with Broadcom yesterday.

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