Once Upon a Time in the Gold Market...

By Jon Nadler
20 November 2008 @ 05:34 pm EDT

Today's principal gold market feature was the rally that...wasn't. Following a good (but likely fund-driven) run to levels near $765 earlier in the session, gold gave up all of its gains and tilted into negative territory before 3pm NY time. The rally that wasn't, was in part undone by...the news story that wasn't. It turns out that perma bulls mistakenly cheered a story that Iran had decided to move its reserve assets into gold. Then again, they also jumped all over other similar stories without proper verification. Makes for great spirit-building articles. Reuters issued a correction this morning:

IBTimes Commodity Commentaries

E-Newsletters

We value your privacy. Your email address will not be shared.

Home
World
US
Economy
Companies
Tech
Science
Global Markets
Education
Real Estate
Forex
Commodities
Gold & Silver Matters
More Sections
Fashion
Auto
Travel
Health
Law
Entertainment
Sports
Luxury
Art
Books
Tech & Trend
Tools & Features
Topics
Market Data
Stock Watch List
Investment Calculator
Financial Glossary
Broker Center
World Business Headlines
ExpertNetwork
SportsNet
PartnerNet
Updates
RSS Feeds
IBTimes on Twitter
IBTimes on Facebook
E-Newsletters
Services
Forex Newsfeed
Research
Press Release
About IBTimes
News Licensing
Media Kit
Advertise with Us
About IBTimes
Contact Us
Terms of Service
Privacy Policy