Afshin Nabavi, head of trading at MKS Finance, said the rally is gaining extra strength from short covering.
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Afshin Nabavi, head of trading with MKS Finance, linked much of the strength in gold and silver to technical-chart factors.
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Afshin Nabavi, senior vice president at MKS Finance, also thinks it will push prices higher, at least in the near-term.
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Afshin Nabavi, head of trading with MKS (Switzerland) SA, said he was surprised to hear of news reports about a possible investigation.
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Afshin Nabavi, head of trading at trading house MKS Finance, said gold prices should continue to rise, although stay in a range.
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Afshin Nabavi, head of trading with MKS (Switzerland) SA, said his firm has seen some increase in physical demand at the lower prices.
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"They've bet their companies on this and don't know what they are going to do, " says Afshin Mohebbi, president of worldwide operations at Qwest.
Afshin Nabavi, head of trading with MKS Finance, blamed the pullback on sizable liquidation after traders had become heavily long during the recent run-up.
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Afshin Nabavi, head of trading with MKS Finance, also said there were news reports of violence in the Amplats strike about the time the platinum group metals rallied.
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Meanwhile, buying interest for palladium appears to be picking up out of the Far East ahead of Chinese New Year celebrations next month, said Afshin Nabavi, head of trading at MKS Finance.
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Arash Afshin, Mohammad Nori and a Walid Abbas own goal gave Iran victory although both teams finished with 10 men after Afshin and UAE defender Khalid Sebil both saw red in separate incidents.
But out-going coach Afshin Ghotbi, an American citizen and Iranian exile who once scouted for Team USA against Iran at the 1998 World Cup, will hope that national pride will be restored with victory over their bitter rivals.
There appears to be some support for gold at the lower levels, said Afshin Nabavi, head of trading at trading house MKS Finance, who also expects gold to trade in the current range and test the upper boundaries.
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