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Gold Market Recap Report
Wed 12 Sep 2012 14:32:25 CT
Related Keywords: Metals
Related Keywords: Metals
The gold market reached a new 61/2-month high early in Wednesday's trading but then proceeded to fall all the way back into negative territory by the close. The German Constitutional Court's ruling allowing that nation to ratify the ESM bond buying program boosted commodity risk sentiment and provided strong support for gold prices early during this morning's session. A weaker Dollar in front of tomorrow's FOMC meeting announcement was also felt to be an additional positive factor for the gold market. However, today's set of decent US economic numbers weighed on December gold and took prices well below their early highs.
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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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