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Skyrocketing Inflation Hasn’t Burnished Gold in 2022

Robust inflation and a stock-market rout didn’t do much for gold prices in the first half of the year. Investors don’t expect conditions to improve.

After gold climbed near records in March, prices slumped over the next three months to their biggest quarterly percentage decline in more than a year. The most actively traded gold futures contract has fallen 7.5% to $1,807.30 a troy ounce, its worst quarter since the 9.5% decline in the period ending in March 2021.