Citi: Buy Gold on a dip to $1250

from Citibank:

Gold prices under early pressure here with XAUEUR breaking through the $1,130 level that’s held reasonably well all week. This feels more like a market that’s run out of some near-term steam than one actively taking profits or looking to short the metal.  Overwhelming sentiment from the investor community still seems to favour owning gold against most all major currencies at the moment, and any pull-back towards the $1,250 200-day moving average is likely to be bought in our opinion.

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