Gold rush still has legs after recent pullback

February 9, 2019

London (Feb 9)  GOLD may be a fine way to say it with love this Valentine's - that is, if pundits' upbeat outlook on the precious metal holds up.

While gold prices have pulled back and are headed for a weekly loss after hitting an eight-month high a week ago when it crossed a key psychological mark of US$1,300 per ounce, experts say there is glitter left for the safe-haven asset to rally in the near to medium term amid a volatile global setting.

Last week, gold prices breached the critical resistance level to scale US$1,326, thanks in large part to the US Federal Reserve's unexpected dovish tone after it left its benchmark rates unchanged as expected.


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