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Forex Flash: Buy Gold vs Yen; target 1980 high - HSBC

By FXstreet.com,  January 09, 2013, 10:33:00 PM EDT

FXstreet.com (Barcelona) - Gold ( XAU ) remains in a long-term bull market, reminds us the HSBC FX Team, who points at an interesting fact. "Whereas Gold is above its 1980 highs against both the USD and the CHF it has yet to surpass that barrier versus the JPY... and given the wave structure and the fact that the 1982 / 1983 reaction high resistance zone is now acting as support it appears probable that the 1980 high of XAU-JPY 204,850 will be beaten before the Gold bull market runs out of steam."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

Referenced Stocks: XAU



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