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Gold choppy between $1,700-$1,800 range amid cross currents

Posted on 18 November 2011

Gold futures have been swimming in choppy waters lately, with a number of cross-currents leaving the metal range-bound between $1,700 and $1,800 an ounce so far this month.

The precious metal started November by rallying from the lower end of this range and eventually touched several daily highs slightly on either side of $1,800. But now, gold is back toward the lower end of the band, pressured by recent gains in the U.S. dollar, some shifting from a range of assets into cash, worries about potential central-bank gold sales to deal with the European debt crisis and technical-chart considerations………………………………………Full Article: Source


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VRS - who has written 38515 posts on Opalesque Commodities Briefing.


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