Talk of a “double-dip” in the economy by President Obama pushed gold lower in trading yesterday. The pullback was further compounded by a rally in the US Dollar index, which rallied ever so slightly. Since hitting $1,153 on Wednesday, we have seen gold tread water. Silver eased back too, from 16 month highs, as it tracked the price of gold and the rebound in the USD.

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Gold & Silver

METALLEVELCHANGE
GOLD$1,142.15-$1.27
SILVER$18.32-$0.17

Market News

  • The Japanese government declared their economy had fallen in to deflation
  • GFMS Metals Consulting said that they believed demand would drive Silver up to $20

Major Economic News

TIMEMARKET DATA
 NO MAJOR ANNOUNCEMENTS