Differentiate between speculation and gambling giving relevant examples. 

Speculation and gambling are two terms that are often used interchangeably, but they are different concepts. While both speculation and gambling involve taking risks to make money, they differ in their purpose and the type of risks involved.

Speculation involves taking risks with the expectation of making a profit in the future. The risks in speculation are based on the analysis of the underlying fundamentals of an asset, such as its value, market trends, and economic conditions. The speculator is looking to profit from the price movements of an asset, based on their assessment of the asset's intrinsic value.

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