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Over the past two centuries, gold has been a relatively stable store of purchasing power, offering real returns of just 0.8% per year—barely ahead of inflation. It's inert by design: it yields ...

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The metal jumped to $3,299 per troy ounce as of 5.27 a.m. ET after a week of losses that ended in an overall decline of around 3% by Friday. Gold has hit a number of record highs this year.

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