Gold to surge toward $2300

After reaching a record high of $2,051/oz in early August, gold suffered its largest one-day decline in seven years on 11 August, dropping back below $1,900/oz. Gold has already recovered to $2,000/oz. The bout of profit-taking in gold is short-lived as noted by economists at UBS who believe a bounce towards $2,300/oz is on the cards.

In the near-term, gold may move as high as $2,300/oz, particularly if geopolitical tensions rise.

KEFI Gold & Copper plc (LON:KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.

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