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Gold's selloff doesn't change the long-term bullish outlook - Saxo Bank
The gold market has room to fall further and even test support at $1,800 an ounce after falling below $1,900 for the first time since March; however, any short-term weakness does not change the long-term fundamental bullish outlook for the precious metal, according to one market analyst. In an interview with Kitco News, Ole Hansen, head of commodity strategy at Saxo Bank, said that given where bond yields and the U.S. dollar have been for most of the month, the selloff should have happened sooner than it did. He added even after Wednesday's selloff, gold prices remain relatively strong. Spot gold prices last traded ... (full story)