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Gold finds support despite strong USD

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Despite the strong dollar, gold is finding some support says Saxo's Ole Hansen. As USD moves higher there is potential risk for the US economy as companies struggle to export, he explains. This is forcing bond yields down and stock markets are running into selling, which is helping the precious metal.

As the dollar continues its ascent, Hansen says it's helping gold priced in Euros as XAUEUR reached a new month high on Wednesday. He says this is the place to be if you believe the dollar will strengthen and you want to buy. But he says if it goes lower, look again at gold priced in USD.