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Gold Market Recap Report
Fri 21 Sep 2012 14:50:37 CT
Related Keywords: Metals
Related Keywords: Metals
For the week December gold forged a trading range of roughly $37 an ounce. With gold prices at times seemingly on the rocks and poised for a downside washout it was a change of pace to see a fresh upside breakout in the Friday morning trade. Apparently the primary force behind the rally today was the idea that ultimately QE would be successful and that almost seemed to foster a quasi inflationary environment today. Some players think that an upcoming formal request of aid by Spain is another hurdle that will soon be cleared on the way to more positive Euro zone sentiment and that seemed to translate into gains in gold prices today. It goes without saying that gold was also lifted by the risk-on/higher equity market environment today.
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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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