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Gold holds shine in turbulent times, rising rates or no

Metal a shelter from Trump policies, European populism

TOKYO -- Many in the market say gold is primed for a climb despite looming hikes in U.S. interest rates, betting that geopolitical risk trumps a chance for better yields.

Gold for February delivery traded in the lower half of the $1,180s per troy ounce early Friday in New York. Investors had on Tuesday bought the metal up to a roughly two-month high above $1,220, seeking shelter following the previous week's news that the U.K. will leave the single European market when exiting the European Union. But selling has predominated since, with a strong dollar and the Dow Jones Industrial Average's historic close above 20,000 apparently putting traders' minds at ease.

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