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Gold price reaches fresh high on US/EM economic concerns

Posted on 25 February 2014

The gold price is being supported by fresh concerns over the strength of the rebound in the US economy, the world’s largest, and by continuing turmoil in emerging markets. “It remains to be seen if recent weakness in US economic data is really due to the weather or if it’s something investors should be more concerned with,” writes Everbright Futures macroeconomic strategist Sun Yonggang.
“Gold is getting some flows from risks in emerging markets but is looking increasingly overbought,” Yonggang notes, adding that increased gold prices “also turn off physical buyers, the most sensitive part of demand”………………………………………..Full Article: Source


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