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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Why gold prices are rising now

Posted on 25 July 2013

After watching some drastic one-day plunges this year for the yellow metal, investors are wondering why gold prices are rising now– could this be the start of a healthy, prolonged rebound? On Monday, gold enjoyed its biggest one-day jump in more than a year. It hit a four-week high as gold finally broke through the $1,300 an ounce technical resistance level and finished above $1,335 an ounce.
Short-covering by technically-oriented traders and the perception that the Fed will continue QE for the foreseeable future are the short-term answers as to why gold had such a strong day, and why prices are rising now………………………………………..Full Article: Source


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VRS - who has written 36927 posts on Opalesque Commodities Briefing.


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