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Goldman Sachs: gold prices will fall below $1000

According to Goldman Sachs' head of commodity research Jeffrey Currie, gold price will likely fall below $1000 for the first time since 2009. "With the more positive outlook on the dollar, and with debasement risk starting to fade, the demand to use gold as a diversifying asset against the U.S. dollar becomes less and less important", Currie believes.

The yellow metall and the other commodity assets entered a structural bearish trend, analyst forecasts. He recommends going short in a long-term prospect.

Gold hit a new 5-year low of $1090 on Wednesday. Fed's rate hike expectations and China's slowdown are the key bearish factors.

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