Gold Market Recap Report
Fri 08 Mar 2013 16:36:00 CT
Related Keywords: Metals
The gold market tried to return to the vicinity of the prior session's highs but that action was short lived and prices ultimately gave in to the bear's wishes. Fear of slowing was seen from a number of fronts and that bearish influence was enhanced by adverse currency market action, weaker equities and some modest technical damage on the gold charts. If the concern toward Spanish debt is a front and center item at the start of next week that could quickly extend the trends seen today in a host of physical commodity markets. One might also suggest that confirmation of muted US inflation readings was yet another reason behind the sell off in gold and precious metals prices today. While evidence of slowing might eventually bring a number of central banks off the bench, evidence of slowing with central bank support clearly emboldens the bear camp.

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