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MarketWatch/Barbara Kollmeyer/03-23-17
The investor love affair with gold is just about to get a reboot.
That’s according to Commerzbank analysts, who cited the precious metal’s revisit to the key $1,250-per-ounce level as one reason for renewed interest. Gold tapped intraday highs above that level on Wednesday and Thursday, but hasn’t managed to settle above $1,250-an-ounce—based on the most-active futures contracts—since March 1, according to FactSet.
“Although this psychologically important threshold appears to be posing something of a challenge in the short term, the chances of the price rising above it are good,” said a team of analysts led by Carsten Fritsch, in a note to clients Thursday.
…“There is ample upside potential . . .”
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