Almost “Maximum Bearishness” On Gold Now But Prepare For $1400/Oz: HSBC

Gold prices are rallying the day before the Thanksgiving holiday, driven higher by the weakening U.S. dollar and tumbling equity prices. Stocks are attempting a recovery early on Wednesday after what was the worst beginning to Thanksgiving week in more than 40 years. Nonetheless, trade on gold was rather subdued this morning as investors held back, and analysts expect the yellow metal to remain somewhat range-bound, but only in the short term.

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