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Metals look for more cues from Europe, dollar

Posted on 30 November 2010

From Resourceinvestor.com: Gold shrugged off gains in the US dollar last week to rise, though the metal lost a bit of momentum on Friday. Tensions in Korea and European contagion fears have led to general safe haven buying in the metal, but as we pointed out last week, perhaps the biggest supporting factor for gold has been the explosive gains in silver. As silver fell notably on Friday, gold followed suit.
Just a few months ago we would have said unequivocally that gold is the driver of the precious metals complex, but that is not necessarily the case any longer. To the extent investment capital continues to flow so dramatically into silver, we would expect it to have a significant pull on the much larger gold market……………………………………….Full Article: Source


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