It's a function of the lack of investment in infrastructure.
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I would expect more buying certainly from the trend-following fund community, a new high will attract a degree of momentum buying.
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Gold is really looking good now and seems to have a clear upside objective. You've got three of the strongest fundamental drivers of gold that are currently converging so it is very difficult to make a bearish case for it at the moment.
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Over time, over history, it has always been a market that people have turned to when there has been an element of uncertainty in other asset classes. It's a question of diversification.
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There is very little demand for heating oil at the moment as a function of the weather.
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