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Follow on Google News | Financial Bulletin: Cornerstone Worldwide – Gold Resumes Upward SurgeCornerstone Worldwide welcome latest rebound in the gold price after biggest weekly slide in 25 years
By: Richard Drake Gold has been a resounding “buy” in Cornerstone Worldwide notes to investors for more than 2 years. Gold futures for December delivery rose $11.30, or 1.4 percent, to $803.40 an ounce at 11:56 a.m. on the Comex division of the NYMEX. The price has fallen 22 percent from a record $1,033.90 reached on March 17. An unnamed source close to strategists at Cornerstone Worldwide said that the firm expects gold to rise considerably in the long-term as investors come to terms with what the firm has, in the past, dubbed the “800lb inflation gorilla in the room”. Cornerstone Worldwide are thought to be convinced that the recent strength in the US dollar will flag as credit markets and financial continue to display weakness. End
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