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Gold Outlook - Refco

So far this year, gold has benefited as investors established new positions in commodities for 2006. Some specs have been riding this trend from a short-term perspective and can be expected to book profits on instances of dollar strength. But we suspects substantial investor interest is longer term, based on the track record of commodities over the last year and a more questionable dollar outlook as the Fed nears the end of its rate tightening cycle.

- Refco Commodities

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