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Scotia Capital: Gold Uptrend Will Continue into 2009
Posted on July 25, 2008
It may be a little early to point to seasonal trends for gold s recent rally that came after a 15% pullback since March s peak, but there are several factors behind the positive swing in speculative investor demand, Scotia Capital said in a report. These include strong fall trends for bullion beginning in September, gold s appeal as an inflation hedge given elevated oil prices, forecasts for higher interest rates from central banks, troubles for global financial companies and the negative impact this has on the U.S. dollar, and finally the recent rebound for gold ETF holdings and increas...
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