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TDS: Any Dip Below $1,200/Oz Gold ‘Should Be Bought’

Posted on 23 November 2016

TD Securities does not anticipate a complete collapse in gold and suggests any price dips below the $1,200-an-ounce level “should be bought.” Gold tumbled over the last two weeks on a higher U.S. dollar, steepening yield curve and expected rise in so-called carry costs, TDS says.
Higher yields and a strong dollar could drive still more traders away from still-elevated long positions, TDS says, meaning potential for gold to slip below $1,200. “But a rout is not expected, as the U.S. central bank is likely to continue to message a very measured approach,” TDS says………………………………………Full Article: Source


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