The views that gold prices are being pulled higher by Bitcoin are dealt a blow this morning with gold at times trading nearly $40 an ounce higher and bitcoin at times trading $2000 lower.

Another potential myth regarding the record run in gold is talk that global central bankers are dumping the dollar in favor of long gold positions.

While we suspect central bankers have investment plans in motion to buy gold, the dollar has not suffered from a massive rotation.

On the other hand, hedge fund managers continue to build their long positions...[MORE]

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