Today's Gold Trade Settled $2.30 Higher.... ($1089.30)

By Mike Daly
05 November 2009 @ 03:24 pm EDT

After a tumultuous beginning to this week the gold market and its Traders appeared ready for this Thursday down time. The Comex covered a very mild (by recent standards) $4.00 range. Many traders are waiting on the unemployment number and seeking the next wave to ride. There is still 203 metric tons of Gold for sale by the IMF. (look for China to buy it out of necessity). Since the FOMC stood their ground and stated they would not change interest rates for an "extended period" I believe this has sent the wrong signals to the International community. "BUY GOLD" because the Dollar is going to continue its Struggle versus the 'Basket of Currencies"....

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