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Will gold test the January highs of around $1,150?
*Reuters, by Lewa Pardomuan, February 22, 2010
”Gold jumped to its highest in a month on Monday as the U.S. Dollar took a breather from a recent rally and fund buying picked up after the euro gained on talk about a speedy bailout for debt-ridden Greece.
Investors have poured money into gold as a hedge against currencies’ volatility due to fears about debt defaults in the euro zone, while the metal’s steady rebound since falling below $1,100 also ignited technical buying. Dealers expected gold to eventually test January highs around $1,150.”
*This information is solely a highlight of the opinion of a third-party publication and is incomplete. Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.