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A Loss Of Faith In USD Is Propelling Gold To $1,400 - ABN AMRO
While many investors are turning to gold because of its safe-haven allure, one international bank says that a weak U.S. dollar is what will continue to drive gold prices higher. Georgette Boele, coordinator of F.X. and precious metals strategy at ABN AMRO, wrote in a report Wednesday that she remained positive on gold and reiterated her bank’s forecast for prices to push to $1,400 an ounce by the end of the year. She added that she is paying more attention to gold’s negative correlation with the U.S. dollar than its safe-haven appeal. “Gold has moved up in an environment of higher equity market volatility and ... (full story)
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GOLD All Time Return:
113.2%
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