Gold Blog by Mike Daly

By Mike Daly
02 November 2009 @ 06:47 pm EDT

Gold Settles $13.60 Higher Today... ($1054.00) The Gold market traded a very choppy $8.60 range today. The Globex session covered an equally choppy $21.20 range. The Gold began its rally off the weakness of the U.S Dollar early (overnight) and later fueled by the news of lender CIT group had filed for chapter 11 protection. This chapter 11 filing is considered one of the largest in U.S history. CIT supplies much needed loans for small to Mid-sized businesses. This certainly is not good news considering the Holidays are quickly approaching.

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