If we look at gold from the long-term perspective, it’s clear that it hasn’t really done much in the recent months – it’s trading in the $1,200 – $1,250 range, which is where it was in the first half of 2016, first half of 2015, for most of 2014 and in the second half of 2013. Overall, despite short-term and medium-term price swings, not much has happened in the past few years.

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