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Hansen: Fed waiting game may trigger gold exodus

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A possible rate hike from the US Federal Reserve in December is likely to put investors off from buying gold in coming weeks, and could even spur an investor exodus, says Saxo Bank’s Ole Hansen.

This comes after low prices in the third quarter saw demand rise 8%, driven mainly by demand for coins and bars but also jewellery, according to a new report from the World Gold Council.

Hansen looks at highlights from the report and gives his outlook for gold for the rest of the year. He also explains how he is trading gold as the markets wait for the FOMC meeting on December 16.