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Gold safe haven still?

Ali Farhad


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Yes I still believe it is a safe haven and I don't think it should be questioned. However I understand why you may think that.

But, if we look at the facts, since the end of December we have seen gold rise significantly from around the 1460 level all the way up to 1580 and even 1600. This means it has had a sustained and quite a large move upwards and it is natural for buyers to now want to take some profit on their positions and some sellers to come in. In my opinion it is a case of gold needing to have a pull back towards the 1510-20 level and possibly lower, before we see a sustained move upwards once more. 

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