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Gold’s safe-haven status on hold
The precious metal has been in a tight range, says Saxo Bank’s head of commodity strategy Ole Hansen, and gold has failed to break higher.
He says the driver behind a return to the $1320/oz range has been stronger US consumer confidence and a recovery in the US dollar.
Weakness in bond yields has failed to lift gold, explains Hansen, with the yellow metal not ready to move higher at this stage.
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