Gold is holding near $4,160 an ounce even as a record $3.8 billion flowed into gold ETFs, a disconnect that has traders asking why the metal isn't rallying harder. The answer, analysts say, lies in the tug-of-war between strong investor demand and the headwind of rising real yields and a firm dollar. For long-term holders, the stall looks less like weakness and more like consolidation before the next move.
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