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Gold Market Recap Report
Fri 14 Sep 2012 14:26:26 CT
Related Keywords: Metals
Related Keywords: Metals
The gold market was able to post a new high for the move early in today's trading but could not sustain yesterday's sharp upside momentum and has fallen back towards unchanged levels by the close of Friday's session. For the week, however, December gold finished with a gain of $32. After more than $85 in gains during September, there was noted amounts of end-of-week long liquidation after today's US economic data posted mixed results. While labor unrest in South Africa was also seen as a longer-term positive factor for the market, many traders felt that the severe selloff in the Dollar after yesterday's FOMC meeting resulted in open-ended quantitative easing measures will continues to be the main source of strength for the market going forward.
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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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