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Rising Oil Prices Could Send Gold “Much Higher,” UBS Says

February 27, 2012

Rising oil prices could send gold “much higher” as higher energy costs will likely curb global growth, according to UBS AG. (UBSN)

“In addition to geopolitical risk premium and the impact of elevated oil prices on inflation expectations, the potential for expensive oil to put a drag on global growth also has upside implications for gold,” Edel Tully, a London-based analyst wrote in a report today.

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