Gold finally breached the $1200 level, trading as high as $1217 in the session. Confidence levels seem to be rising, with yesterdays pending home sale figures in the US giving renewed optimism, despite the Dubai issues being in the background.
Gold & Silver
- Credit Suisse, in a note to investors, said that “continued weakness in the Dollar as well as falling US real interest rates have spurred strong investment interest for precious metals over the last few months”
- The latest data released from the CFTC showed speculative net long positions rose to record highs in the week to November 24th
- SPDR Gold Trust, the worlds’ largest gold backed ETF, said holdings rose by 0.61 tonnes yesterday
- Please note that we have non-farms scheduled to be released on Friday
Major Economic News
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