Mid-Session Gold Market Report
Thu 10 May 2012 11:36:02 CT
Related Keywords: Metals
Related Keywords: Metals
June gold waffled around both sides of unchanged this morning, as prices appeared to be catching some relief from a slight improvement in outside market conditions. While the decline in initial claims wasn't overly significant, the claims figures were better than expected and that seemed to temper anxiety toward physical commodities. Clearly gold was technically oversold and a slight improvement in sentiment today probably prompted some gold shorts to buy back positions. It also seemed as if Euro zone anxiety was on the decline today, even though the markets were still waiting to see if Greece could actually get an official government formed.
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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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