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Gold has further to rise despite likely Venezuelan sales

In isolation, the news that the Venezuelan government is nationalising its gold industry and planning to repatriate its overseas gold reserves might be seen as negative for the price of the metal. However, as today’s surge to a new record high shows, there are far more powerful positive forces at work. Indeed, our long-held target of $2,000 per oz may now be hit even sooner than we had anticipated.

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