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Commodities Briefing - Categorized | Bullion/Gold, Currencies, Market Moves, Oil more

Gold’s unfulfilling behavior vs. oil, currencies

Posted on 03 March 2011

From Seekingalpha.com: Considering the turmoil in the Middle East and the spike in oil prices after Libya’s uprising, I am extremely surprised that the price of gold didn’t break $1,420 earlier; it took until yesterday, March 1, to move beyond that barrier, propelling the metal into short-term overbought territory as of today.

I cannot complain about the event from a trade perspective, and have held the famous SPRD Gold Trust (GLD) since February 17, with futures having conquered the 1,367 level that I mentioned in my post “What Do Global Events Mean for Gold?” and triggering the reverse play…………………………………….Full Article: Source


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This post was written by:

VRS - who has written 37015 posts on Opalesque Commodities Briefing.


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