Spot Gold $1740 Below Target $1704—$1697 (Rona Mana Hai), Trade With Neal Bhai
Implications for Gold
What does it all mean for the gold market? Well, the weaker and more choppy the rebound, the better for gold, as the fragile recovery should assure elevated safe-haven demand for gold.
Similarly, the larger gap between the real economy and financial markets, and the longer it lasts, the greater possibility of the financial crisis. In such environment, the yellow metal is an attractive portfolio diversifier, so we would not be surprised if gold crosses $1800 per ounce in the foreseeable future.
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