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Mid-Session Gold Market Report
Mon 03 Dec 2012 11:25:32 CT
Related Keywords: Metals
Related Keywords: Metals
Gold prices spent most of the morning trade in positive ground. However, gold securities did fall back from their early highs and that clearly took some of the bullish edge off gold prices. On the other hand, gold was benefited from favorable US equity market action, supportive currency market action and by strength in other metals and commodity markets. It is also likely that gold was given some lift in the wake of Construction Spending data, which was stronger than expected. However, the Construction Spending data was moderately offset by a slide in the ISM November manufacturing results. In the end, the gold market ended up remaining below the mid point of the rather wide Friday US trading range into mid session 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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