Gold Market Recap Report
Thu 23 Aug 2012 14:51:00 CT
Related Keywords: Metals
The gold market was impressive with another range up extension that at times had the December gold contract trading as much as $67 an ounce above this week's lows. Strength in the Euro might have allowed for some of the gains, but the idea that one or more central banks might be poised to provide added stimulus was really the dominating issue for the trade. While the prospect of QE part 3 from the US probably accounts for most of the bullish psychology, a portion of the trade thinks the PBOC is close to acting and there is clearly a positive tilt in place this week toward the Euro zone debt situation.

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