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The gold rate remains to hold near its highest level in greater than 8 years but according to one market analyst the rare-earth element is walking a perilous tightrope in the near-term as rates remain to check vital resistance around $1,800 an ounce.
In an interview with Kitco Information on the sidelines of the Mines as well as Cash on-line attach virtual mining meeting, Lachlan Shaw, head of product research study at the National Australian Bank, said that a lasting move over $1,800 is going to depend upon exactly how the coronavirus remains to affect the global economy.
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Gold might not be able to sustain $1,800 in the near-term - National Australian Bank
The gold price continues to hold near its highest level in more than eight years but according to one market analyst the precious metal is walking a precarious tightrope in the near-term as prices continue to test critical resistance around $1,800 an ounce.
In an interview with Kitco News on the sidelines of the Mines and Money online connect virtual mining conference, Lachlan Shaw, head of commodity research at the National Australian Bank, said that a sustainable move above $1,800 is going to depend on how the coronavirus continues to impact the global economy.
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Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
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