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VIRUS OUTBREAK

Goldman sees safe-haven gold hitting US$1,800

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Gold is near a seven-year high, supported by an increasing number of coronavirus cases worldwide that threatens to curtail economic activity. It has outperformed traditional haven currencies.

New York

GOLDMAN Sachs Group boosted its gold forecast to US$1,800 an ounce as the coronavirus, depressed real rates, and increased focus on the US election continue to drive demand for the metal as a haven.

The bank raised its 12-month projection by US$200, and said "in the event...

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