Tue 22 May 2012 14:30:00 CT
The gold market managed to throw off early pressure as prices managed to recover into mid morning but then the market saw its bullish resolve partially weaken through mid session. Strength in the dollar and weakness in the Euro might have limited gold and other physical commodity markets today, as concern toward the Euro zone situation generally remained in place today despite the impending EU summit directly ahead. Some traders suggest that the EU needs to come forth with something significant in order to restore confidence and right now that something would seem to be taking the form of a Euro Bond. Seeing the Euro come under fresh pressure today would seem to suggest that the trade has to see proof of credible action before putting a positive spin on the European debt crisis.
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