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The end of an easy-money era should normally spell bad news for gold. But right now, fund managers are keeping their holdings.
At a time when equities and Bitcoin--often touted as digital gold--are sinking as loose monetary policy draws to a close, bullion exchange-traded fund holdings are proving resilient. Despite expectations for multiple U.S. interest-rate hikes this year, bets for real rates to stay negative and demand for an inflation hedge are supporting the appeal of the time-honored haven.
