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Gold traders turn more bullish after Barack Obama win

Posted on 12 November 2012

Gold traders are the most bullish in 11 weeks and investors accumulated record bullion holdings on speculation US policy makers will add to stimulus following President Barack Obama’s re-election.
Twenty-five of 33 analysts surveyed by Bloomberg expect prices to rise next week and three were bearish. A further five were neutral, making the proportion of bulls the highest since August 24. Investors boosted assets in gold-backed exchange-traded products to an all-time high of 2,596.1 tonne on Saturday, valued at $144.7 billion……………………………………….Full Article: Source


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VRS - who has written 38144 posts on Opalesque Commodities Briefing.


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