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HSBC: Gold Has Room for Further Gains




As published on Kitco Market Nuggets, HSBC affirms that gold could still continue this rally on behalf of the current geopolitical tensions with regard to Syria.

The weaker US dollar index, the higher gold prices and re-emergence of gold's safe haven role are contributing to the rising precious metal prices.

Gold and crude oil are historically correlated. During geopolitical tensions, they rally together.

On Wednesday, Friday 28th, gold has already reached above the 25 $ level. It seems the rally is strong and with ETF-buying intensifying, the 1,500 $ is eyed on mid-term (this year).





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