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(From Business Day (South Africa))
Byline: Chris Hart, Gizelde Brady
GOLD at this stage won't stay out of the headlines. The sheer speed of its ascent and the relative underperformance of gold shares suggest that the market is looking for a correction. The market appears to be doing just that with a new high of $645,75/oz followed by a vicious sell-off in late trade yesterday. On balance, it is believed that gold remains in a long-term bullish trend but is overbought at present. There are enough reasons for gold to rise with Middle East tensions rising and global financial imbalance coming to the fore. An …