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Bonds bombing, shares slipping, so why isn’t gold shining?

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Gold is the traditional safe haven for investors, but no one seems to be interested in taking shelter at the moment. Saxo Bank’s Ole Hansen explains why this may offer a golden opportunity to get into the market.

According to Hansen, gold needs a spark to escape the current range of around USD 1,200. While the ongoing talks between Greece and its creditors are offering support to gold, other factors are proving to be a drag. Among these are the possibility of a rate hike from the US Federal Reserve and a booming Chinese stock market.

That said, Hansen believes gold prices are set to rise later in the year and sets out his year-end target.