Down Under to Turn Up Above

By Jon Nadler
12 June 2009 @ 09:30 am EDT

Gold prices fell back towards the $933putative supportarea following the dollar's success at turning back to well above the 80-mark on the trade-weighted index overnight. Crude oil prices easing back from their lofty $73 levels also helped drag the yellow metal to lower levels. The spectacular advance in oil (complete with forecasts of 'imminent' $85 prices) comes amid an absence of positive fundamentals (sound familiar?) and is clearly bearing the footprint of speculative funds at play (also sound familiar?).

IBTimes Commodity Commentaries

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