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Julius Baer: Improved political environment should drive gold lower

Following a favourable round-one outcome of the French elections, Julius Baer retains its neutral view on gold, with the bank forecasting that the gold price will decline towards its 3-month target of US$1,200 per ounce. With election results indicating a Macron-Le Pen standoff, gold fell 0.6% and 2% in USD and EUR terms, respectively. The safe-haven precious metal had already…

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