Gold pushed to a two-month high, hitting $1,283.80 an ounce on Wednesday, in the context of tensions escalating between the U.S. and North Korea. So is it purely a play of gold acting as a safe haven? For analyst Vince Lanci of Echobay partners, it depends on the next leg of the U.S. dollar. ‘If people start piling into the dollar and gold continues to rally then it can be called a safe haven and it wouldn't just be a soundbite.’ As to whether gold can keep the momentum and get back to its historical high of $1,900, Lanci said it is not impossible but the current backdrop is missing a few factors, ‘When it made that move, a couple of things were on the table that are not on the table now.’
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Can We Talk $1,900 Gold? Maybe, But Not Like Last Time Says This Expert | |
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| News & Politics | Upload TimePublished on 9 Aug 2017 |
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