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Inflation in the U.S. is now at 7.5% — the highest level in forty years. For the U.S. stocks, this means more losses as markets price in a more aggressive Federal Reserve. But for gold, this means more demand as investors turn to the precious metal for protection.
Also, a warning from the U.S. that Russia could launch military action in Ukraine "any day" is pushing gold prices well above the $1,850 an ounce level. Here's a look at Kitco's top three stories of the week:
3. U.S. Mint sells 5 million ounces of silver in January, best start since 2017
2. From one of the worst to best-performing assets? Gold price to tackle $2,100 by year-end, says Wells Fargo
1. The U.S. makes 'largest financial seizure ever,' taking control of $3.6 billion in Bitcoin stolen in 2016
By Anna Golubova
For Kitco News
