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.”
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