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Feb 04 - 04:55 AM

Gold - Uncertainty Could Lift Gold Above $3000/Oz In Near Future

By Jeremy Boulton  —  Feb 04 - 02:51 AM

• Gold considered safe and a viable way to spread risk away from USD

• Some major nations are seeking ways to challenge dollar's dominance

• BRICS nations locking horns with US may buy gold instead USD

• Gold thought viable way to hedge inflation risk

• Tariff threat has proved real - delays prolong uncertainty

• Spec longs could grow towards 2020 peak at 350k from current 300k

• Monday's record high at $2830 follows 55-DMA above 100-DMA golden cross

• $2830 was a fibo target off Dec low - next are $2855, $2889 and $2932


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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