Our Chief Weapons are Suprise and Fear

By Jon Nadler
28 July 2009 @ 03:49 pm EDT

 The congestive pattern that continued to frustrate gold market players of late, appeared to finally give way on Tuesday, as the precious metal saw a near 2% drop following a recovery in the US dollar against the euro. Earlier, the greenback sank to its lows for the year on the trade-weighted index. Today, we had as pure a dollar-oil-gold play as one can conceivably design on paper, albeit, given the 0.34 point rise in the dollar index, one would have expected smaller-scale losses in bullion.

IBTimes Commodity Commentaries

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