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Gold Caps Its Best Year in a Decade With the Dollar on the Ropes

  • Bullion finds support as greenback hits the lowest since 2018
  • Investors weighing up haven’s appeal as vaccines rolled out
Nordgold NV's Gold Producing Operations In Kazakhstan

Photographer: Andrey Rudakov/Bloomberg

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Gold posted the biggest annual advance in a decade after a tumultuous year, with gains this month aided by the dollar’s decline to the lowest since April 2018.

Bullion hit a record in August as investors feared an unprecedented wave of stimulus by central banks and governments would lead to currency debasement and inflation. Holdings in bullion-backed exchange-traded funds set an all-time high in October.