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If Monday's action was led by the “Shanghai Sell-Off” then it is fair to say that Tuesday's early market developments had all the markings of the “Berlin Bounce.” German investor confidence rose to its highest level in three years this month, following readings of an expanding economy during Q2. No V-shaped recovery, this. Good enough for a pop in the DAX and other markets, that's for sure. And, of late, any time the equity markets either swoon or jump back to life, so does gold; in a cheek-to-cheek-close tango. This morning was no different.
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