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Gold Prices Poised to Continue Their Breakdown

Posted on 16 July 2014

It’s the proverbial pie in the face for traders who were sure gold was destined for higher highs. On Monday, gold prices, along with the SPDR Gold Shares (GLD), plunged a stunning 2.3% — the biggest one-day dip of the year — when Portugal’s debt crisis didn’t cause the country to sink into the ocean and drag the rest of Europe down with it.
The closing price of gold on Monday was $1,306.70 per ounce, pulling the commodity’s price to its lowest level since June 18. That was the day before gold prices soared after Janet Yellen vowed to keep interest rates low, and thereby keep the U.S. dollar suppressed………………………………………..Full Article: Source


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VRS - who has written 36171 posts on Opalesque Commodities Briefing.


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