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Gold plays keeping momentum up as prices climb

From stockhead.com.au

Gold plays are eyeing the climb in gold prices to a near two-week high of $US1,745 ($2,276) an ounce thanks to a weaker US dollar, falling bond yields and a rally in crude oil prices that fuelled precious metal bulls. Despite the slowly improving sentiment surrounding gold, analysts remained cautious about its prospects, saying that it would likely remain neutral if prices did not break past the $US1,750 barrier. Commerzbank analyst Carsten Fritsch is a little more positive, saying that some tailwinds are starting to pick up for the gold market as solid economic data fails to provide support for the US dollar and ... (full story)

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  • Category: Fundamental Analysis