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Merrill: Drop in gold might be a buying opportunity

Posted on 05 October 2016

Investors should use the recent drop in gold prices as a buying opportunity, as increased volatility in the market ahead of a potential Fed interest rate hike could lead investors to seek refuge in the precious metal, according to Francisco Blanch, head of global commodities and derivatives research at Bank of America Merrill Lynch.
“Gold is really thriving on uncertainty, and frankly, on the end of the U.S. [rate] cycle whenever that happens,” said Blanch. The commodities expert believes that once the U.S. central bank decides to raise interest rates, potentially causing equities to sell off and the dollar to rally, investors will see gold prices stabilize and eventually trend higher…………………………………….Full Article: Source


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