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Gold Market Recap Report
Wed 05 Dec 2012 14:30:18 CT
Related Keywords: Metals
Related Keywords: Metals
The gold market forged a fresh new low for the move this morning but managed to reject a noted portion of those losses into mid session. However, February gold seemed to run into some overhead resistance around the Tuesday close. The bull camp in gold saw some lift off the lows, but gold prices during the session didn't show a directly positive reaction to US data that was better than expected. However, gold did seem to gather some minor lift off the US recovery in equities, even if that recovery followed a slide off the beginning of a fiscal cliff press conference in Washington. While gold continues to see signs that central bankers are poised to continue buying gold, fears of a broad based physical commodity market washout are real in the face of the nearing end of the Lame Duck Congress.
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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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