Mid-Session Gold Market Report
Wed 02 May 2012 11:18:00 CT
Related Keywords: Metals
Related Keywords: Metals
While the March ADP employment reading was a bit stronger than expected, that reading was partially countervailed by a somewhat disappointing April result. However, while gold did seem to bounce in the wake of the ADP figures, that rally attempt failed into the 7:30 cst time frame. From the mid morning high, to the low just ahead of the Factory Orders release, June gold managed a slide of roughly $14 an ounce. Even though gold managed to bounce again after the second set of data, the bull camp just didn't seem to have the capacity to completely erase the initial bearish bias. Just to add to the bear's case in gold today, the US Mint released monthly gold coin sales figures, which showed the weakest gold coin sales in 40 months!
View All Market Commentary
View All Market Commentary
*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.
-
- Idea Exchange is your direct link to the product managers, marketers, and the development teams who create cmegroup.com and will allow you to review functionality, participate in focus groups and provide feedback on upcoming Web initiatives
