| From Commodityonline.com: Following Monday’s give-up of Friday’s hard-fought gains, gold prices headed lower still in the early Tuesday trading hours. The yellow metal hit a fresh, six-and-a-half week low in spot levels, under $1085 per ounce. At least three culprits stood out in the suspect line-up like sore thumbs today as well: the dollar, thin market conditions, and profit-takers.
Moody’s decision to downgrade Greek sovereign debt from A1 to A2, albeit still higher than Fitch’s and S&P’s, added to credit jitters this morning and supported strength in the US dollar (last seen at 1.428 against the euro)........................................Full Article: Source
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