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Gold Market Recap Report
Fri 07 Sep 2012 15:14:35 CT
Related Keywords: Metals
Related Keywords: Metals
The gold market posted a huge daily gain for the second Friday in a row and has now risen to the highest prices levels since late February. For the week, December gold finished with a gain of 52.90. A weaker than expected August Non Farm Payroll numbers had many traders lifting their expectations that the Fed will introduce new quantitative easing measures at next week's FOMC meeting. A sharp drop in peripheral EU bond yields and reports that China has improved new infrastructure projects were also seen by many traders to have boosted overall market sentiment, which also became a key factor with lifting gold prices up towards new highs for the move.
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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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