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Well at $1230/oz its still very cheap so you can buy some but I wouldn't start buying over $1500. Gundlach said it will go over $1400 this year but Bank of America suggests $1550 is possible so who knows.
The central banks esp Russia and China are buying massive quantities for bank reserves so there is some additional demand underneath.
It's going to be interesting to watch the action on Gold over the next few weeks especially.
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