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Mid-Session Gold Market Report
Fri 08 Mar 2013 16:35:00 CT
Related Keywords: Metals
The gold market initially waffled around both sides of unchanged but as the session progressed the bear camp seemed to garner more control. Positive scheduled data points early in the session provided only a temporary lift in gold prices, but weakness in equities and adverse currency market action seemed to shift control more fully toward the bear camp. From this week's highs to the lows this morning, June gold has already seen a drop of roughly $52 an ounce and that has probably prompted some technical stop loss selling action. With the second set of scheduled US data coming in weak, it is also likely that gold was seeing some classic macro economic slowing pressure this morning.

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