Gold Market Recap Report

Mon 07 May 2012 14:39:01 CT
Related Keywords: Metals

The gold market started out weaker, tried to bounce in concert with US equities but generally favored the bear case throughout the Monday US trade action. While some market players tried to talk up improving physical demand from India ahead, the gold market was kept off balance because of the potential for global slowing. Adverse currency market action was another limiting factor for gold prices today, but seeing equities and copper prices claw back into positive ground might have prompted some fresh gold shorts to bank profits and return to the sidelines.

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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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