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Gold Market Recap Report
Fri 08 Mar 2013 16:36:00 CT
Related Keywords: Metals
Related Keywords: Metals
The gold market spent a large portion of the Wednesday trade in lower ground. Some traders suggested that many physical commodity markets were looking ahead to the Spanish debt auction with concern as higher yields on the debt offerings Thursday morning might whip up a definitive risk off vibe. While June gold managed to hold above the prior session's low, seeing prices drift down toward a breakout might have given the bear camp some added resolve today. While the BOC wasn't threatening to implement tightening moves anytime soon with their dialogue today, most physical commodity markets have little tolerance for anything besides easing talk. With equities weaker, Treasuries higher and adverse currency market action the gold trade was simply presented with an overall bearish outside market environment.
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*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.
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