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Mitsubishi says it expects gold to go higher – making now a great time to buy as profit taking could see gold sit at present levels for a short period. Its analysts say that the negative interest rates and poor Treasury yield are fuel to drive gold far higher, but a strong US dollar currently and profit taking serves to keep gold prices at steady levels in the short term, opening up a great window of opportunity to buy.

Analyst Jonathan Butler says, “With gold’s recent rally, there may be net liquidations in the short term as speculators book profits… This should be a time for gold to shine as a risk haven and a non-yielding asset. And though it is hard to imagine things getting worse with 26 million unemployed in the U.S. and GDP growth having collapsed, any further deterioration in the health and economic picture will see gold pushing much higher.”

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