Macquarie expects gold to hold above US$330

MACQUARIE expects the gold price to hold above US$330 per ounce for much of 2003, although analyst Kamal Naqvi warns investors the price is likely to suffer short-term weakness.

Macquarie expects gold to hold above US$330 Macquarie expects gold to hold above US$330 Macquarie expects gold to hold above US$330 Macquarie expects gold to hold above US$330 Macquarie expects gold to hold above US$330

The price weakness could emerge if the war in Iraq is quickly resolved, leading to a likely "relief rally" in equity markets and the US dollar.

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