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

Gold rally may lose steam

Posted on 29 April 2013

Gold prices are up 6.8% from recent 26-month lows, but there is evidence that these gains are temporary, traders and analysts say.A rush to buy physical gold and jewelry in India and China helped prices bounce higher last week. But at the same time, financial investors were leaving the market.
Gold held at exchange-traded funds, which trade and store the metal on the investors’ behalf, continued to decline as investors sold their shares. In addition, Comex open interest, the number of futures contracts left open overnight without offsetting transactions, were dropping, a sign investors are moving to the sidelines………………………………………..Full Article: Source


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VRS - who has written 37629 posts on Opalesque Commodities Briefing.


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