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Rally in gold revives debate over allocations to the precious metal

Up 17% over the past three months, gold is turning heads as a potential hedge.

With uncertainty overshadowing the economy and financial markets, debates over whether gold serves as an effective hedge are cropping up again.

The price of the precious metal, as tracked by the $57 billion SPDR Gold Shares ETF (GLD), has risen 5.7% since the start of the year, which is nearly on

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