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Feb 05 - 02:55 AM

Gold - Another Day, Another Record High For Gold, Trade FX Accordingly

By Jeremy Boulton  —  Feb 05 - 02:28 AM

• Gold's boom to $2861/oz record reflects gravity of current situation

• Tariffs or delays to them support risk aversion favouring safer assets

• Yen and CHF which are also considered safe have risen

• Dollar's setback in last 24 hours is due to its stretched rise

• An overbought situation has been alleviated allowing for bigger $ rise

• Some demand for gold stems from will to spread risk away from USD

• BRICS nations seeking alternate to USD are likely buyers of gold


gold


(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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