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Nov 04 - 04:55 AM
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Gold - Dollar's Vulnerability Following Election Could Spur A Gold Rally
By Jeremy Boulton — Nov 04 - 03:21 AM
• There was a lot of uncertainty before election, more after
• Stocks wobbling, bonds previously sold to extremes
• Several emerging market currencies under great stress
• Traders turned to the dollar and established many longs
• Risk of policy gridlock set to undermine USD
• Flows out of USD may head to gold, up $160/oz this week
• 200-WMA at $3882 is key support, foundation for rally
•
Gold
(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters