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Gold's Sharp Drop Is "Strategic Buying Opportunity" - Goldman Sees Physical Demand Intact From China

The drivers of strong physical ETF and bar demand for gold during 2016 are likely to remain intact, according to Goldman, including continued strong physical demand for gold as a strategic hedge, limiting any downside, seeing the recent sharp gold selloff as a strategic buying opportunity, given substantial downside risks to global growth remain, and given that the market is likely to remain concerned about the ability of monetary policy to respond to any potential shocks to growth.
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