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Gold Market Report
Fri 03 Feb 2012 14:21:04 CT
Related Keywords: Metals
Related Keywords: Metals
Gold Market Recap Report
The gold market forged a noted range today and the results clearly weren't what the bulls were expecting in the wake of the better than expected US payroll report. However, as suggested in the mid day coverage, the gold trade took the scheduled data result today and decided the odds of QE3 from the US Fed might be reduced and that in turn prompted a round of technical and fundamentally based profit taking in gold. Gold might have been partially undermined by adverse currency market action but in retrospect the action from the currency markets wasn't overly significant.
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