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Grexit? A golden reason not to panic
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Greek debt deadlines are looming and markets have been reacting but no sings of panic...yet. Saxo Bank's Head of Commodity Strategy Ole Hansen has been analysing the Gold market for clues and trading suggests a relaxed mood despite the most recent talks between the Greek finance minister and the Troika breaking down. So are Gold traders discounting a Grexit?
Gold is holding above USD 1219 with 1200 as the next key support level and 1240/50 the upside resistance levels, according to Ole who also explains what will happen to Gold prices when China begins week-long New Year celebrations this week.