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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 forged a rather extensive trading range today and it was somewhat surprising that gold prices weren't put under more significant pressure in the wake of soft US data. Clearly gold prices fell sharply off the Fed stance, but gold prices at times today were able to recover from a noted portion of those initial Fed inspired declines. The sharper than expected drop in Durable goods figures was apparently discounted in the face of the range up move in US stocks today and perhaps because the focus of the trade was on the FOMC results that were due out well after the Durable good release. Some buyers might have bought the dip in gold prices today because of thinking that the Fed was remaining on hold because of the lingering prospect of inflation down the road.
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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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