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Mid-Session Gold Market Report
Fri 08 Mar 2013 16:36:00 CT
Related Keywords: Metals
The gold market was off sharply this morning in the wake of disappointing Chinese growth news, adverse currency market action and general disappointment from the overt weakness in the US equity markets. Scheduled US data didn't seem to offer much of an offset to the initial negative macro economic tilt from the international markets, probably because the US Inflation readings were nondescript and the US sentiment readings were also soft. In the afternoon trade gold and other physical commodity prices are likely to take most of their direction from equities, especially if equities add to the morning losses. With the gold market seemingly focused on the demand side of the equation this morning, news of a decline in gold production from Harmony mines in their 3rd quarter, probably wasn't given too much attention.

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