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Gold & Silver Report
Thursday 3rd September 2009

Gold moved sharply higher yesterday, reaching an intraday high of $981.00 last seen on June 5th 2009 supported by a weaker US dollar. The move was triggered by safe heaven buying as investors are still worried about a potential correction in the stock market. There's also a fair chance that some buy stops were hit on the way up which exacerbated the rally. Silver moved higher with gold on the same economic uncertainties. The white metal is usually bought as a cheaper alternative to gold and tends to gain from any renewed concerns about global recovery.

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Gold & Silver

METAL

LEVEL

CHANGE

GOLD

976.14

(+22.24)

SILVER

15.370

(+0.41)

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Risk Warning: Spread betting and Contracts For Differences (CFDs) carry a high level of risk to your capital with the possibility of losing more than your initial investment and may not be suitable for all investors. Only speculate with money you can afford to lose. Please ensure you fully understand the risks involved and seek independent advice if necessary. Any information provided does not constitute the giving of investment advice. ODL Markets is a trading name of ODL Securities Limited, 8th Floor, 10 Lower Thames Street, London EC3R 6AD which is authorised and regulated by the Financial Services Authority.

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