Gold has become a relatively cheap investment opportunity which may continue rising in price, even after exceeding $1,900 per ounce, according to Richard Kelly, head of global strategy at TD Securities. “Gold is relatively cheap, so when you’re trying to think about that positioning, gold is definitely one that still has catch-up potential,” the strategist said, as quoted by CNBC. He added that “gold had a phenomenal run-up over the course of last year, and when that reversed, I think it scared a few investors off.” Last August, spot gold price reached a record high of $2,063 per troy ounce. The current price of the precious metal stan
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