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Gold Market Recap Report
Thu 27 Dec 2012 14:38:15 CT
Related Keywords: Metals
Related Keywords: Metals
Gold waffled around both sides of unchanged today as early attempts to rally were dampened by soft US data, weakness in equities and fresh evidence pointing toward a "no deal" outcome in Washington. As suggested in the mid day coverage the gold market didn't seem to take much guidance from news of an increase in Russian Central Bank gold reserves and gold also didn't seem to be poised to fully embrace its safe haven or flight to quality potential. Minimally adverse currency market action and weakness in other physical commodities might have discouraged some would-be buyers but it is also possible that some traders became risk averse because of the lack of progress in Washington.
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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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