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Gold’s rebound fuels hopes of $1,200 mark

Posted on 26 February 2009

From FT: Commodity markets struggled for clear direction during a highly volatile session yesterday. Gold initially extended its retreat for a third session, sinking as low as $952.30 a troy ounce before recovering to $972.90, up 1 per cent on the day.

“Chartists viewed yesterday’s recovery as encouraging as gold rebounded from a recent resistance level of $951.80 last touched on February 12, only to rebound higher, suggesting that the uptrend for prices remained intact….. Full Article: Source


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