Local market moved down with weaker commodities and weaker yield despite solid non-farm payroll pushing March rate rise to near 100% probability. Gold was a substantial outperformer in a day when most sectors were negative…Property, Energy and Health Care were the worst performers. Volatility index in Australia reached historical lows on Friday and markets were jumping on safe haven gold stocks…stretched market multiples, rising macro risks, rising inflation and rising interest rate cycle are making gold great again!!!
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