Technicals show gold in Australian dollars could break new highs

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SYDNEY (Reuters) -

Gold denominated in Australian dollars has been home on the range for a year, but the yellow metal is about to come out from down under and break to new all-time highs.

Gold is beginning the fourth leg of what will be a five-stage move that will take it from current levels of around A$1,461.86 an ounce toward A$1,950 .