Gold set to tar­get $1 280 – at least

And the rand will rally be­fore again weak­en­ing

Finweek English Edition - - Companies & Markets -

FOL­LOW­ING LAST WEEK’S RE­PORT on the gold sec­tor, we present a chart of the gold price (in US dol­lars). While gold shares have raced up to their min­i­mum tar­gets, the dol­lar gold price is in­ter­est­ing in that re­gard. We also show a weekly chart of the US dol­lar/ rand, with a longer-term per­spec­tive for it. The charts show the gold price near­ing a very im­por­tant re­sis­tance level – which is likely to hold be­fore an even­tual break­out later. Mean­while, the US dol­lar/rand is in a con­sol­i­da­tion phase be­fore the rand again weak­ens.

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