``The rate hike? It was a non-event, partly because it was the most well-advertised event for much of the past couple years. Nevertheless, few recall that between 2005 and 2006, interest rates went up 17 times, yet gold soared 50 percent. Meantime, central banks continue to buy the yellow metal. China is buying 50 tonnes a month joining Russia and other central banks. Even the gold ETF attracted almost a billion in only a month in contrast to the $2 billion of withdrawals over the last year.''

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