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Gold price could hit $1,300/oz on weaker dollar, global risks – HSBC

Posted on 27 April 2016

The gold price has the potential to hit $1,300 this year thanks to gold-bullish factors including a weaker dollar, global risks and a modest recovery in oil prices, HSBC said. A move above $1,300 would take the yellow metal to the strongest since January 2015. Spot gold was last at $1,233.30/1,233.60 per ounce, down $3.70 on Tuesday’s close.
“We find two reasons that reaffirm our broadly bullish view on gold. The potential for US dollar weakness ahead, particularly vs the euro, helped by a truce in the currency wars. Gold could also benefit from hedging ahead of the UK referendum on remaining in the EU,” the bank said in a note………………………………………..Full Article: Source


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