Looking for gold to hit $1,700 as US dollar loses steam | Trading the markets


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With the dovish rhetoric coming out of the Federal Reserve, James Stanley, foreign exchange strategist at DailyFX, tells IG that he is looking at a weaker USD from this point. He picks out sterling as one of the main winners, although, he is seeing this as a broad USD sell-off. In amongst the mix is a stronger gold price. Here he says it is expected to sail past the $1,550 highs of September with his target closer to $1,700.

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