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Can Gold Hit US$5,000? Wall Street Turns Bullish Even as Strong US Jobs Revive Rate-Hike Fears
NEW YORK — Gold is facing a major test. After an extraordinary rally that pushed the precious metal into historically high territory, Wall Street is increasingly debating whether gold could climb to US$5,000 an ounce. But the path higher has suddenly become more complicated. A stronger-than-expected US jobs report has revived fears that the Federal Reserve could raise interest rates again, pushing Treasury yields higher and putting pressure on gold. On Monday, spot gold fell to around US$4,40
