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Hansen: Gold wins gold for being January's best commodity performer

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It's been a turbulent start to 2016 and while oil has been January's loser, gold has been its winner, says Saxo's Ole Hansen. The precious metal is up around 5% year-to-date. Hansen notes that investors are beginning to get back into gold with mor than one billion US dollars moved into some of the big ETFs this month. 

The rise can't all be blamed on crude. Uncertainty over how many rate hikes the US Federal Reserve will introduce this year has also added support.

In this video, Hansen looks at the key levels and where the precious metal could be headed next.